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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000950103-06-000302.txt : 20060210
<SEC-HEADER>0000950103-06-000302.hdr.sgml : 20060210
<ACCEPTANCE-DATETIME>20060210170739
ACCESSION NUMBER:		0000950103-06-000302
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		4
FILED AS OF DATE:		20060210
DATE AS OF CHANGE:		20060210
GROUP MEMBERS:		ICH GROUP RESOURCES, INC.
GROUP MEMBERS:		SCH MINORITY HOLDINGS, LLC
GROUP MEMBERS:		SIX CONTINENTS HOTELS, INC.

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FelCor Lodging Trust Inc
		CENTRAL INDEX KEY:			0000923603
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				752541756
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-43551
		FILM NUMBER:		06599586

	BUSINESS ADDRESS:	
		STREET 1:		545 E JOHN CARPENTER FREEWAY
		STREET 2:		SUITE 1300
		CITY:			IRVING
		STATE:			TX
		ZIP:			75062
		BUSINESS PHONE:		9724444900

	MAIL ADDRESS:	
		STREET 1:		545 E JOHN CARPENTER FREEWAY
		STREET 2:		SUITE 1300
		CITY:			IRVING
		STATE:			TX
		ZIP:			75062

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FELCOR LODGING TRUST INC
		DATE OF NAME CHANGE:	19980810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FELCOR SUITE HOTELS INC
		DATE OF NAME CHANGE:	19940523

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INTERCONTINENTAL HOTELS GROUP PLC /NEW/
		CENTRAL INDEX KEY:			0000858446
		STANDARD INDUSTRIAL CLASSIFICATION:	HOTELS & MOTELS [7011]
		IRS NUMBER:				250420260
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		20 NORTH AUDLEY ST
		CITY:			LONDON WIY 1WE ENGLA
		STATE:			X0
		ZIP:			32822
		BUSINESS PHONE:		4045513500

	MAIL ADDRESS:	
		STREET 1:		20 NORTH AUDLEY ST
		STREET 2:		-
		CITY:			LONDON ENGLAND
		STATE:			X0
		ZIP:			W1K 6WN

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIX CONTINENTS PLC
		DATE OF NAME CHANGE:	19950531
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>feb1006_sc13da.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE> </TITLE>
</HEAD>
<BODY bgcolor="#ffffff">
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -10px">

<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">UNITED STATES</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">SECURITIES AND EXCHANGE COMMISSION</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">Washington, D.C. 20549</FONT>
        </TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=center>
<hr align="center" width="15%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">SCHEDULE 13D</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">Under the Securities Exchange Act of 1934</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(Amendment No. 3)</FONT>
        </TD>
</TR>
<TR>
        <TD align="center">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">FELCOR LODGING TRUST INCORPORATED</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">(Name
            of Issuer)</FONT>
        </TD>
</TR>
<TR>
        <TD align="center">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">COMMON
            STOCK</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">&#36;.01 PAR VALUE</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(Title of Class of Securities)</FONT>
        </TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD align=center><hr align="center" width="15%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">31430F101</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(CUSIP Number)</FONT>
        </TD>
</TR>
<TR>
        <TD>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">SCH MINORITY HOLDINGS, LLC</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">SIX CONTINENTS HOTELS, INC.</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">ICH GROUP RESOURCES, INC.</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">INTERCONTINENTAL HOTELS GROUP PLC</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(Names of Persons Filing Statement)</FONT>
        </TD>
</TR>
<TR>
        <TD align="center">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">THOMAS J. REID</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">Davis Polk &amp; Wardwell</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">99
            Gresham Street</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">London EC2V 7NG</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">Tel. No.: +44 20 7418 1355</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(Name, Address and Telephone Number of</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">Person Authorized to Receive Notices</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">and Communications)</FONT>
        </TD>
</TR>
<TR>
        <TD align="center">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">February 9, 2006</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center>
<FONT size=2 face="sans-serif">(Date of Event which Requires Filing of</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=100% align=center> <FONT size=2 face="sans-serif">this Statement)</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD align=center><hr align="center" width="15%" size="1"></TD>
</TR>
</TABLE>
<BR>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this statement because of Rule 13d-1(b)(3) or (4), check the
following: <font face="Wingdings">o</font> </FONT></P>
<P align="left"><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Check the following box if a fee is being paid with this
    statement: <font face="Wingdings">o</font> </FONT></P>
<hr align="center" width="100%" size="1" noshade color="#000000" style="margin-top: -2px">
<hr align="center" width="100%" size="4" noshade color="#000000" style="margin-top: -10px">

<PAGE>
<br>
<br>
<DIV align=center>
<TABLE cellSpacing=0 cellPadding=10 width="90%" border=0>
  <TR>
    <TD
    style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"
    vAlign=center align=left width="28%"><FONT
      face="Times New Roman, Times, serif" size=2><STRONG>CUSIP No.
      31430F101</STRONG></FONT></TD>
    <TD vAlign=center align=center width="34%"><FONT
      face="Times New Roman, Times, serif" size=3><STRONG>13D</STRONG></FONT></TD>
    <TD vAlign=center align=middle width="28%"><FONT
      face="Times New Roman, Times, serif" size=2>&nbsp;</FONT></TD>
  </TR></TABLE></DIV><BR>
<DIV align=center>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="90%" border=1>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>1</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>NAME OF REPORTING
      PERSON<BR>
      S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</FONT><BR>
      <BR>
      <FONT face=serif size=2>INTERCONTINENTAL HOTELS GROUP PLC</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>2</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK THE APPROPRIATE BOX IF A
      MEMBER OF A GROUP*</FONT>      <DIV align=right><FONT face="Times New Roman, Times, serif"
      size=2>(a)</FONT>&nbsp;<FONT face=wingdings size=2>x</FONT>&nbsp;<BR><FONT
      face="Times New Roman, Times, serif" size=2>(b)&nbsp;</FONT><FONT
      face=wingdings size=2>o</FONT>&nbsp;</DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>3</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SEC USE
      ONLY</FONT><BR><BR><BR></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>4</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SOURCE OF
      FUNDS</FONT>* <BR>
      <BR>
      <FONT face=serif size=2>OO</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>5</FONT></TD>
    <TD vAlign=top colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
        <br>
        TO ITEMS 2(d) or 2(e)</FONT>
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT>&nbsp;<BR><BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>6</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CITIZENSHIP OR PLACE OF ORGANIZATION</FONT> <BR><BR>
      <FONT
      face=serif size=2>UK</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=center align=center colSpan=2 rowSpan=4><FONT
      face="Times New Roman, Times, serif" size=2>NUMBER OF
      SHARES<BR>
      BENEFICIALLY OWNED BY<BR>
      EACH REPORTING PERSON<BR>WITH</FONT></TD>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>7</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE VOTING POWER</FONT>
      <BR><BR>      <FONT face=serif size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>8</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED VOTING POWER</FONT>
      <BR><BR></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>9</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE DISPOSITIVE POWER</FONT>
      <BR><BR>      <FONT face=serif size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>10</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED DISPOSITIVE
      POWER</FONT> <BR><BR></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>11</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>AGGREGATE AMOUNT BENEFICIALLY
      OWNED BY EACH REPORTING PERSON</FONT> <BR><BR>      <FONT face=serif
      size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>12</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK BOX IF THE AGGREGATE
      AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT>*
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT><BR>
        <BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>13</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>PERCENT OF
      CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR><BR>
    </FONT><FONT face=serif
      size=2>0.9%</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>14</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>TYPE OF REPORTING
      PERSON*<BR>
      <BR>
    </FONT><FONT face=serif
size=2>CO</FONT></TD>
  </TR></TABLE></DIV>


<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>


<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=10 width="90%" border=0>
    <TR>
      <TD
    style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"
    vAlign=center align=left width="28%"><FONT
      face="Times New Roman, Times, serif" size=2><STRONG>CUSIP No. 31430F101</STRONG></FONT></TD>
      <TD vAlign=center align=center width="34%"><FONT
      face="Times New Roman, Times, serif" size=3><STRONG>13D</STRONG></FONT></TD>
      <TD vAlign=center align=middle width="28%"><FONT
      face="Times New Roman, Times, serif" size=2>&nbsp;</FONT></TD>
    </TR>
  </TABLE>
</DIV><BR>
<DIV align=center>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="90%" border=1>
  <TR>
    <TD vAlign=top align=middle><FONT
      face="Times New Roman, Times, serif" size=2>1</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>NAME OF REPORTING PERSON<BR>
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</FONT><BR>
    <BR>
    <FONT face=serif size=2>SCH MINORITY HOLDINGS
    LLC</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>2</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK THE APPROPRIATE BOX IF A
      MEMBER OF A GROUP*</FONT>      <DIV align=right><FONT face="Times New Roman, Times, serif"
      size=2>(a)</FONT>&nbsp;<FONT face=wingdings size=2>x</FONT>&nbsp;<BR><FONT
      face="Times New Roman, Times, serif" size=2>(b)&nbsp;</FONT><FONT
      face=wingdings size=2>o</FONT>&nbsp;</DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>3</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SEC USE
      ONLY</FONT><BR><BR><BR></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>4</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SOURCE OF
      FUNDS</FONT>* <BR>
      <BR>
      <FONT face=serif size=2>OO</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>5</FONT></TD>
    <TD vAlign=top colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
        <br>
        TO ITEMS 2(d) or 2(e)</FONT>
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT>&nbsp;<BR><BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>6</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CITIZENSHIP OR PLACE OF ORGANIZATION</FONT> <BR><BR>
      <FONT
      face=serif size=2>DE</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=center align=center colSpan=2 rowSpan=4><FONT
      face="Times New Roman, Times, serif" size=2>NUMBER OF
      SHARES<BR>
      BENEFICIALLY OWNED BY<BR>
      EACH REPORTING PERSON<BR>WITH</FONT></TD>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>7</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE VOTING POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>8</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED VOTING POWER</FONT>
      <BR><BR><FONT face=serif size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>9</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE DISPOSITIVE POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>10</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED DISPOSITIVE
      POWER</FONT> <BR><BR><FONT face=serif size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>11</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>AGGREGATE AMOUNT BENEFICIALLY
      OWNED BY EACH REPORTING PERSON</FONT> <BR><BR>      <FONT face=serif
      size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>12</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK BOX IF THE AGGREGATE
      AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT>*
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT><BR>
        <BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>13</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>PERCENT OF
      CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR><BR>
    </FONT><FONT face=serif
      size=2>0%</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>14</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>TYPE OF REPORTING
      PERSON*<BR><BR>
    </FONT><FONT face=serif
size=2>OO</FONT></TD>
  </TR></TABLE>
</DIV>
<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>

<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=10 width="90%" border=0>
    <TR>
      <TD
    style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"
    vAlign=center align=left width="28%"><FONT
      face="Times New Roman, Times, serif" size=2><STRONG>CUSIP No. 31430F101</STRONG></FONT></TD>
      <TD vAlign=center align=center width="34%"><FONT
      face="Times New Roman, Times, serif" size=3><STRONG>13D</STRONG></FONT></TD>
      <TD vAlign=center align=middle width="28%"><FONT
      face="Times New Roman, Times, serif" size=2>&nbsp;</FONT></TD>
    </TR>
  </TABLE>
</DIV><BR>
<DIV align=center>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="90%" border=1>
  <TR>
    <TD vAlign=top align=middle><FONT
      face="Times New Roman, Times, serif" size=2>1</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>NAME OF REPORTING PERSON<BR>
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</FONT><BR>
    <BR>
    <FONT face=serif size=2>SIX CONTINENTS
    HOTELS, INC.</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>2</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK THE APPROPRIATE BOX IF A
      MEMBER OF A GROUP*</FONT>      <DIV align=right><FONT face="Times New Roman, Times, serif"
      size=2>(a)</FONT>&nbsp;<FONT face=wingdings size=2>x</FONT>&nbsp;<BR><FONT
      face="Times New Roman, Times, serif" size=2>(b)&nbsp;</FONT><FONT
      face=wingdings size=2>o</FONT>&nbsp;</DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>3</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SEC USE
      ONLY</FONT><BR><BR><BR></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>4</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SOURCE OF
      FUNDS</FONT>* <BR>
      <BR>
      <FONT face=serif size=2>OO</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>5</FONT></TD>
    <TD vAlign=top colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
        <br>
        TO ITEMS 2(d) or 2(e)</FONT>
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT>&nbsp;<BR><BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>6</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CITIZENSHIP OR PLACE OF ORGANIZATION</FONT> <BR><BR>
      <FONT
      face=serif size=2>DE</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=center align=center colSpan=2 rowSpan=4><FONT
      face="Times New Roman, Times, serif" size=2>NUMBER OF
      SHARES<BR>
      BENEFICIALLY OWNED BY<BR>
      EACH REPORTING PERSON<BR>WITH</FONT></TD>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>7</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE VOTING POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>8</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED VOTING POWER</FONT>
      <BR><BR><FONT face=serif size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>9</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE DISPOSITIVE POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>10</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED DISPOSITIVE
      POWER</FONT> <BR><BR><FONT face=serif size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>11</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>AGGREGATE AMOUNT BENEFICIALLY
      OWNED BY EACH REPORTING PERSON</FONT> <BR><BR>      <FONT face=serif
      size=2>532,428</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>12</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK BOX IF THE AGGREGATE
      AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT>*
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT><BR>
        <BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>13</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>PERCENT OF
      CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR><BR>
    </FONT><FONT face=serif
      size=2>0.9%</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>14</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>TYPE OF REPORTING
      PERSON*<BR><BR>
    </FONT><FONT face=serif
size=2>CO</FONT></TD>
  </TR></TABLE>
</DIV>
<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>

<DIV align=center>
  <TABLE cellSpacing=0 cellPadding=10 width="90%" border=0>
    <TR>
      <TD
    style="BORDER-RIGHT: #000000 1pt solid; BORDER-TOP: #000000 1pt solid; BORDER-LEFT: #000000 1pt solid; BORDER-BOTTOM: #000000 1pt solid"
    vAlign=center align=left width="28%"><FONT
      face="Times New Roman, Times, serif" size=2><STRONG>CUSIP No. 31430F101</STRONG></FONT></TD>
      <TD vAlign=center align=center width="34%"><FONT
      face="Times New Roman, Times, serif" size=3><STRONG>13D</STRONG></FONT></TD>
      <TD vAlign=center align=middle width="28%"><FONT
      face="Times New Roman, Times, serif" size=2>&nbsp;</FONT></TD>
    </TR>
  </TABLE>
</DIV><BR>
<DIV align=center>
<TABLE borderColor=#000000 cellSpacing=0 cellPadding=5 width="90%" border=1>
  <TR>
    <TD vAlign=top align=middle><FONT
      face="Times New Roman, Times, serif" size=2>1</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>NAME OF REPORTING PERSON<BR>
    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON</FONT><BR>
    <BR>
    <FONT face=serif size=2>INTERCONTINENTAL
    HOTELS GROUP RESOURCES, INC.</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>2</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK THE APPROPRIATE BOX IF A
      MEMBER OF A GROUP*</FONT>      <DIV align=right><FONT face="Times New Roman, Times, serif"
      size=2>(a)</FONT>&nbsp;<FONT face=wingdings size=2>x</FONT>&nbsp;<BR><FONT
      face="Times New Roman, Times, serif" size=2>(b)&nbsp;</FONT><FONT
      face=wingdings size=2>o</FONT>&nbsp;</DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>3</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SEC USE
      ONLY</FONT><BR><BR><BR></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>4</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>SOURCE OF
      FUNDS</FONT>* <BR>
      <BR>
      <FONT face=serif size=2>OO</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>5</FONT></TD>
    <TD vAlign=top colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
        <br>
        TO ITEMS 2(d) or 2(e)</FONT>
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT>&nbsp;<BR><BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>6</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif"
      size=2>CITIZENSHIP OR PLACE OF ORGANIZATION</FONT> <BR><BR>
      <FONT
      face=serif size=2>DE</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=center align=center colSpan=2 rowSpan=4><FONT
      face="Times New Roman, Times, serif" size=2>NUMBER OF
      SHARES<BR>
      BENEFICIALLY OWNED BY<BR>
      EACH REPORTING PERSON<BR>WITH</FONT></TD>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>7</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE VOTING POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>8</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED VOTING POWER</FONT>
      <BR><BR><FONT face=serif size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>9</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SOLE DISPOSITIVE POWER</FONT>
      <BR><BR>      </TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>10</FONT></TD>
    <TD vAlign=top align=left width="59%"><FONT
      face="Times New Roman, Times, serif" size=2>SHARED DISPOSITIVE
      POWER</FONT> <BR><BR><FONT face=serif size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>11</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>AGGREGATE AMOUNT BENEFICIALLY
      OWNED BY EACH REPORTING PERSON</FONT> <BR><BR>      <FONT face=serif
      size=2>0</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>12</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>CHECK BOX IF THE AGGREGATE
      AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</FONT>*
      <DIV align=right><FONT face=wingdings
    size=2>o</FONT><BR>
        <BR></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>13</FONT></TD>
    <TD colSpan=3><FONT face="Times New Roman, Times, serif" size=2>PERCENT OF
      CLASS REPRESENTED BY AMOUNT IN ROW (11)<BR><BR>
    </FONT><FONT face=serif
      size=2>0%</FONT></TD>
  </TR>
  <TR>
    <TD vAlign=top align=middle width="4%"><FONT
      face="Times New Roman, Times, serif" size=2>14</FONT></TD>
    <TD vAlign=top align=left colSpan=3><FONT
      face="Times New Roman, Times, serif" size=2>TYPE OF REPORTING
      PERSON*<BR><BR>
    </FONT><FONT face=serif
size=2>CO</FONT></TD>
  </TR></TABLE>
</DIV>
<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>

<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">This Amendment No. 3 (&#147;Amendment No. 3&#148;) amends and supplements the Statement on Schedule 13D (the &#147;Schedule 13D&#148;) originally filed on November 9, 1998 by Holiday Corporation, a Delaware
corporation (&#147;HC&#148;), Bass America, Inc., a Delaware corporation (&#147;BAI&#148;), and Bass PLC, a public limited company organized under the laws of England and Wales (&#147;Bass&#148;) (the &#147;Original Statement&#148;), as amended by
Amendment No. 1 to the Schedule 13D filed with the Commission on February 29, 2000 (&#147;Amendment No. 1&#148;) and Amendment No. 2 to the Schedule 13D filed with the Commission on October 11, 2002 (&#147;Amendment No. 2&#148;), relating to the
shares (the &#147;Shares&#148;) of Common Stock, &#36;0.01 par value per share, of FelCor Lodging Trust Incorporated, a Maryland corporation (the &#147;Issuer&#148;). </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">All capitalized terms used in this Amendment No. 3 without definition have the meanings attributed to them in the Original Statement, as amended by Amendment No. 1 and Amendment No. 2.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The items of the Schedule 13D set forth below are hereby amended and supplemented as follows:</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Item 2. Identity and Background.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 2 is amended by amending and restating such Item in its entirety as follows:</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">&#147;The name of the persons filing this statement are SCH Minority Holdings, LLC, a Delaware limited liability company (&#147;SCHMH&#148;), Six Continents Hotels, Inc., a Delaware corporation (&#147;SCH&#148;),
InterContinental Hotels Group Resources, Inc., a Delaware corporation (&#147;IGR&#148;, a successor in interest to Bristol Hotels &amp; Resorts, a Delaware corporation), and InterContinental Hotels Group PLC, a public limited company organized under
the laws of England and Wales (&#147;IHG&#148;, and together with SCHMH, SCH and IGR, the &#147;IHG Entities&#148; or the &#147;Reporting Persons&#148;).</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The address of the principal business and the principal office of SCHMH is Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346. The name, business address, present principal occupation or employment, and
citizenship of each director and executive officer of SCHMH is set forth on Schedule A. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The address of the principal business and the principal office of SCH is Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346. The name, business address, present principal occupation or employment, and
citizenship of each director and executive officer of SCH is set forth on Schedule B. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The address of the principal business and the principal office of IGR is Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346. The name, business address, present principal occupation or employment, and
citizenship of each director and executive officer of IGR is set forth on Schedule C. </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The address of the principal business and the principal office of IHG is 67 Alma Road, Windsor, Berkshire, SL4 3HD, United Kingdom. The name, business address, present principal occupation or employment, and
citizenship of each director and executive officer of Six Continents is set forth on Schedule D.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Effective April 15, 2003, Six Continents PLC separated into two new listed entities, InterContinental Hotels Group PLC, comprising the hotels and soft drinks businesses and Mitchells &amp; Butlers plc, comprising
the retail and standard commercial property developments business.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">IHG is a public limited company organized under the laws of England and Wales and is the ultimate parent of SCHMH, SCH and IGR. The business of IHG and its subsidiaries comprises the ownership, management, leasing
and franchising of hotels and resorts. The sole activity of SCHMH is the ownership of Shares. SCH owns, operates and franchises hotels under the names &#147;Crowne Plaza&#148;, &#147;Holiday Inn&#148;, &#147;Holiday Inn Express&#148; and
&#147;Staybridge Suites&#148;. IGR leases and manages hotels in North America.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">During the last five years, none of the IHG Entities, nor any other person controlling, controlled by or under common control with the IHG Entities, nor to the best of their knowledge, any of the persons listed on
Schedules A, B, C and D attached hereto, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and
as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such
laws.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Item 4. Purpose of Transaction.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 4 is amended by inserting the following paragraphs immediately after the fourth paragraph thereof:</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">&#147;Each of SCHMH, SCH and IGR entered into separate Purchase Agreements with RREEF America L.L.C. (&#147;RREEF&#148;), dated as of February 9, 2006, pursuant to which SCHMH sold 7,161,697 Shares, SCH sold
1,924,618 Shares and IGR sold 413,685 Shares at a price of &#36;19 per Share.</FONT></P>


<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font size=2 face="sans-serif">In
connection with the transactions contemplated by the Purchase Agreements entered
into by the IHG Entities, the Issuer&#146;s Board of Directors exempted RREEF
from certain provisions in the Issuer&#146;s Articles of Amendment and Restatement
that prohibit ownership by any person of more than 9.9% of the outstanding Shares.
As a result of the disposition of Shares by IHG Entities pursuant to the Purchase
Agreements, IHG Entities decreased their ownership interest in the Issuer from
approximately 17.1% to 0.9% .&#148;</font></FONT></P>
<P align="left"><FONT size=2 face="sans-serif">Item 5. Interest in Securities of the Issuer.</FONT></P>
<P align="left"><FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 5 is amended by amending
    and restating such Item in its entirety as follows:</FONT></P>
<blockquote>
  <blockquote>
    <p align="left">
      <FONT size=2 face="sans-serif">&#147;(a)(i) For the purpose of Rule 13d-3 promulgated
      under the Exchange </FONT><FONT size=2 face="sans-serif">Act, SCHMH sold 7,161,67
        Shares and no longer beneficially owns any Shares of the Issuer;</FONT></p>
    <p align="left">
      <FONT size=2 face="sans-serif">(a)(ii) For the purpose of Rule 13d-3 promulgated under the Exchange Act, SCH sold 1,924,618 Shares and now beneficially owns 532,428 Shares, representing approximately 0.9% of the outstanding Shares of the Issuer;</FONT></p>
    <p align="left">
      <FONT size=2 face="sans-serif">(a)(iii) For the purposes of Rule 13d-3 promulgated
      under the </FONT><FONT size=2 face="sans-serif">Exchange Act, IGR sold 413,685
        Shares and no longer beneficially owns any Shares of the Issuer; and </FONT></p>
    <p align="left">
      <FONT size=2 face="sans-serif">(a)(iv) IHG, the indirect parent of SCHMH, SCH
      and </FONT><FONT size=2 face="sans-serif">IGR, for purposes of Rule 13d-3 promulgated
        under the Exchange Act, beneficially owns 532,428 Shares (the total Shares owned
        by SCHMH, SCH and IGR), representing approximately 0.9% of the outstanding Shares
        of the Issuer.</FONT></p>
  </blockquote>
</blockquote>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Except as set forth in this Item 5(a), none of the IHG Entities, nor any other person controlling, controlled by or under common control with, the IHG Entities, nor, to the best of their knowledge, any persons
named in Schedules A, B, C or D hereto owns beneficially any Shares.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Due to the sale of the Shares, each IHG Entity ceased to be a beneficial owner of more than 5% of the outstanding Shares of the Issuer.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">(b)
SCH has shared power to vote and to dispose of 532,428 Shares and IHG has shared
power to vote and to dispose of 532,428 Shares.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) None, other than the reported event described in Item 4.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Not applicable.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Not applicable.&#148;</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">Except as set forth above, there are no contracts, arrangements, understandings or relationships between the IHG Entities and any other person with respect to any Shares of the Issuer.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Item 7. Material to be Filed as Exhibits.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Item 7 is amended by adding the following language at the end thereof: </FONT></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%" align="left" valign="top">&nbsp;</td>
    <td width="15%" align="left" valign="top"><font size=2 face="sans-serif">&#147;Exhibit
    10:</font></td>
    <td width="95%" align="left" valign="top"><font size=2 face="sans-serif">Purchase
    Agreement, dated as of February 9, 2006, between SCHMH and RREEF.</font></td>
  </tr>
  <tr>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Exhibit 11:</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Purchase Agreement,
    dated as of February 9, 2006, between SCH and RREEF.</font></td>
  </tr>
  <tr>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top">&nbsp;</td>
  </tr>
  <tr>
    <td align="left" valign="top">&nbsp;</td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Exhibit 12:</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Purchase Agreement,
    dated as of February 9, 2006, between IGR and RREEF.</font></td>
  </tr>
</table>
<P align="left">
  <FONT size=2 face="sans-serif">Schedule A is deleted in its entirety and replaced with Schedule A attached hereto.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Schedule B is deleted in its entirety and replaced with Schedule B attached hereto.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Schedule C is deleted in its entirety and replaced with Schedule C attached hereto.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Schedule D is deleted in its entirety and replaced with Schedule D attached hereto.</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="center">
<FONT size=2 face="sans-serif">SIGNATURES</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certifies that the information set forth in this statement is true, complete and correct.</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">Date: February 10, 2006</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD colspan="3" align=left nowrap>
    <FONT size=2 face="sans-serif">SCH MINORITY HOLDINGS, LLC</FONT>    </TD>
  </TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD width=3% align=left nowrap><font size=2 face="sans-serif">By:&nbsp;&nbsp;</font></TD>
  <TD colspan="2" align=left nowrap>
    <FONT size=2 face="sans-serif"> /s/ Michael L. Goodson</FONT>       </TD>
  </TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD width=3% align=left nowrap>&nbsp;</TD>
  <TD colspan="2" align=left nowrap>
<hr align="left" width="65%" size="1"></TD>
  </TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD width=3% align=left nowrap>&nbsp;</TD>
  <TD width=7% align=left nowrap><FONT size=2 face="sans-serif">Name:&nbsp;&nbsp;</FONT></TD>
        <TD width=50% align=left>
  <FONT size=2 face="sans-serif">Michael L. Goodson</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD width=3% align=left nowrap>&nbsp;</TD>
  <TD width=7% align=left nowrap><FONT size=2 face="sans-serif">Title:</FONT></TD>
        <TD width=50% align=left> <FONT size=2 face="sans-serif"> Attorney-in-fact</FONT>
        </TD>
</TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD colspan="3" align=left nowrap>
    <FONT size=2 face="sans-serif">SIX CONTINENTS HOTELS, INC.</FONT>   </TD>
  </TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap><font size=2 face="sans-serif">By:&nbsp;&nbsp;</font></TD>
  <TD colspan="2" align=left nowrap> <FONT size=2 face="sans-serif"> /s/ Michael
      L. Goodson</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD colspan="2" align=left nowrap>
    <hr align="left" width="65%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Name:&nbsp;&nbsp;</FONT></TD>
  <TD align=left> <FONT size=2 face="sans-serif">Michael L. Goodson</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Title:</FONT></TD>
  <TD align=left> <FONT size=2 face="sans-serif"> Attorney-in-fact</FONT> </TD>
</TR>
<TR>
  <TD align="left">&nbsp;</TD>
  <TD align="left" nowrap>&nbsp;</TD>
  <TD align="left" nowrap>&nbsp;</TD>
  <TD align="left">&nbsp;</TD>
</TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD colspan="3" align=left nowrap>
    <FONT size=2 face="sans-serif">ICH GROUP RESOURCES, INC.</FONT>     </TD>
  </TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap><font size=2 face="sans-serif">By:&nbsp;&nbsp;</font></TD>
  <TD colspan="2" align=left nowrap> <FONT size=2 face="sans-serif"> /s/ Michael
      L. Goodson</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD colspan="2" align=left nowrap>
    <hr align="left" width="65%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Name:&nbsp;&nbsp;</FONT></TD>
  <TD align=left> <FONT size=2 face="sans-serif">Michael L. Goodson</FONT> </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Title:</FONT></TD>
  <TD align=left> <FONT size=2 face="sans-serif"> Attorney-in-fact</FONT> </TD>
</TR>
<TR>
  <TD align="left">&nbsp;</TD>
  <TD align="left" nowrap>&nbsp;</TD>
  <TD align="left" nowrap>&nbsp;</TD>
  <TD align="left">&nbsp;</TD>
</TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD width=40% align=left>&nbsp;</TD>
  <TD colspan="3" align=left nowrap>
    <FONT size=2 face="sans-serif">INTERCONTINENTAL HOTELS GROUP PLC</FONT>     </TD>
  </TR>
<TR>
  <TD width="40%" align="left">&nbsp;</TD>
  <TD width="3%" align="left" nowrap>&nbsp;</TD>
  <TD width="7%" align="left" nowrap>&nbsp;</TD>
        <TD width="50%" align="left">&nbsp;

        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap><font size=2 face="sans-serif">By:&nbsp;&nbsp;</font></TD>
  <TD colspan="2" align=left nowrap><FONT size=2 face="sans-serif">/s/ Richard Solomons</FONT>  </TD>
  </TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD colspan="2" align=left nowrap>
    <hr align="left" width="65%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Name:&nbsp;&nbsp;</FONT></TD>
  <TD width=50% align=left> <FONT size=2 face="sans-serif">Richard Solomons</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left>&nbsp;</TD>
  <TD align=left nowrap>&nbsp;</TD>
  <TD align=left nowrap><FONT size=2 face="sans-serif">Title:</FONT></TD>
  <TD width=50% align=left> <FONT size=2 face="sans-serif">Finance Director</FONT>
        </TD>
</TR>
</TABLE>
<BR>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="right">
<FONT size=2 face="sans-serif">SCHEDULE A </FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">DIRECTORS AND EXECUTIVE OFFICERS OF SCHMH </FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The name, business address, title, present principal occupation or employment of each of the directors and executive officers of SCHMH are set forth below. If no business address is given the director&#146;s or
officer&#146;s business address is Three Ravinia Drive, Suite 100, Atlanta, GA 30346. Unless otherwise indicated, each occupation set forth opposite an individual&#146;s name refers to SCH. Unless otherwise indicated, all of the persons listed below
are citizens of the United States of America.</FONT></P>
<table border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td width=30% align=left nowrap>&nbsp; </td>
    <td width=5% align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td width=45% align=center nowrap><font size=2 face="sans-serif">Present Principal
    Occupation</font></td>
    <td width=20% align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=center nowrap> <font size=2 face="sans-serif">Name
        and Business Address</font> </td>
    <td width=5% align=left nowrap>&nbsp;</td>
    <td width=45% align=center nowrap> <font size=2 face="sans-serif">Including Name
      and Address<SUP>(1)</SUP> of Employer </font></td>
    <td width=20% align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left><hr align="left" width="100%" size="1"></td>
    <td width=5% align=left>&nbsp;</td>
    <td width=45% align=left><hr align="left" width="100%" size="1"></td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left> <font size=2 face="sans-serif">Directors</font> </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left>&nbsp; </td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr>
    <td width="30%" align="left">&nbsp; </td>
    <td width="5%" align="left">&nbsp;</td>
    <td width="45%" align="left">&nbsp;</td>
    <td width="20%" align="left">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left> <font size=2 face="sans-serif">Robert J. Chitty</font> </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left><font size=2 face="sans-serif">Director and Vice
    President, Tax &amp;</font> </td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left>&nbsp; </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left><font size=2 face="sans-serif">Treasurer of SCHMH;
    Vice President, Tax &amp;</font> </td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left>&nbsp; </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left><font size=2 face="sans-serif">Treasurer</font> </td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr>
    <td width="30%" align="left">&nbsp; </td>
    <td width="5%" align="left">&nbsp;</td>
    <td width="45%" align="left">&nbsp;</td>
    <td width="20%" align="left">&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left> <font size=2 face="sans-serif">Julian Fortuna</font> </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left><font size=2 face="sans-serif">Director of SCHMH;
    Vice President &amp; General</font></td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td width=30% align=left>&nbsp; </td>
    <td width=5% align=left>&nbsp; </td>
    <td width=45% align=left><font size=2 face="sans-serif">Tax Counsel</font> </td>
    <td width=20% align=left>&nbsp;</td>
  </tr>
</table>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(2)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Executive Officers</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;</TD>
        <TD width=20% align=left>&nbsp;

        </TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">(Who Are Not Directors)</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;</TD>
        <TD width=20% align=left>&nbsp;

        </TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Not Applicable.</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;</TD>
        <TD width=20% align=left>&nbsp;

        </TD>
</TR>
</TABLE>
<BR>
<table width="100%"  border="0" cellspacing="0" cellpadding="4">
  <tr align="left">
    <td colspan="2" valign="top">
      <hr align="left" width="15%" size="1"></td>
  </tr>
  <tr>
    <td width="5%" align="center" valign="top"><font size=2 face="sans-serif">(1)</font></td>
    <td width="95%" align="left" valign="top"><font size=2 face="sans-serif">Same
        address as director&#146;s or officer&#146;s business address except
    where indicated.</font></td>
  </tr>
  <tr>
    <td align="center" valign="top"><font size=2 face="sans-serif">(2)</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Same address
    as director&#146;s or officer&#146;s business address except where indicated.</font></td>
  </tr>
</table>
<FONT size=2 face="sans-serif"> </FONT><BR>
<FONT size=2 face="sans-serif"> </FONT><br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="right">
<FONT size=2 face="sans-serif">SCHEDULE B </FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">DIRECTORS AND EXECUTIVE OFFICERS OF SCH</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The name, business address, title, present principal occupation or employment of each of the directors and executive officers of SCH are set forth below. If no business address is given the director&#146;s or
officer&#146;s business address is Three Ravinia Drive, Suite 100, Atlanta, GA 30346. Unless otherwise indicated, each occupation set forth opposite an individual&#146;s name refers to SCH. Unless otherwise indicated, all of the persons listed below
are citizens of the United States of America.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(1)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Directors</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Angela I. Brav</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Director, Senior Vice President, Americas,</FONT>
        </TD>
    <TD width=20% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Franchise &amp; Operations Support</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Robert L. Jackman</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, Senior Vice President,</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">General Counsel and Secretary</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Kirk Kinsell</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, Senior Vice President and</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Chief Development Officer, Business Development</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">and Franchise Sales</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Richard R. Kowaleski</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, Senior Vice President, Americas,</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Finance</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Stevan D. Porter</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, President, Americas</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Kate S. Stillman</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Director, Senior Vice President, Americas</FONT>
        </TD>
    <TD width=20% align=right>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Human Resources, Corporate Affairs &amp; Training</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Mark Wells</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, Senior Vice President, Americas</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Brand Performance</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(2)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Executive Officers</FONT></TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">(Who Are Not Directors)</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Robert J. Chitty</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Vice President, Tax and Treasury</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Robert C. Gunkel</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Vice President, Project Finance</FONT>
        </TD>
    <TD width=20% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">John K. Merkin</FONT>
        </TD>
        <TD width=5% align="left">&nbsp;
        </TD>
        <TD width=45% align=left><FONT size=2 face="sans-serif">Vice President, Franchise Operations</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
</TABLE>
<BR>

<table width="100%"  border="0" cellspacing="0" cellpadding="4">
  <tr align="left">
    <td colspan="2" valign="top">
<hr align="left" width="15%" size="1"></td>
  </tr>
  <tr>
    <td width="5%" align="center" valign="top"><font size=2 face="sans-serif">(1)</font></td>
    <td width="95%" align="left" valign="top"><font size=2 face="sans-serif">Same
        address as director&#146;s or officer&#146;s business address except
        where indicated.</font></td>
  </tr>
  <tr>
    <td align="center" valign="top"><font size=2 face="sans-serif">(2)</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Same address
        as director&#146;s or officer&#146;s business address except where indicated.</font></td>
  </tr>
</table>


<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="right">
<FONT size=2 face="sans-serif">SCHEDULE C </FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">DIRECTORS AND EXECUTIVE OFFICERS OF IGR</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The name, business address, title, present principal occupation or employment of each of the directors and executive officers of IGR are set forth below. If no business address is given the director&#146;s or
officer&#146;s business address is Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346. Unless otherwise indicated, each occupation set forth opposite an individual&#146;s name refers to SCH. Unless otherwise indicated, all of the persons listed
below are citizens of the United States of America.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(1)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Directors</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">David A. Hom</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director,
            Vice President, Associate General</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>&nbsp;

        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Counsel and Assistant Secretary</FONT>
        </TD>
    <TD width=20% align=right>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Thomas P. Murray</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, Chief Operating Officer, Americas</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Stevan D. Porter</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director, President, Americas</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(2)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Executive Officers</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">(Who Are Not Directors)</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">James F. Anhut</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Regional Senior Vice President, Staybridge Suites</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Robert C. Gunkel</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Vice President, Project Finance</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Alexi S. Hakim</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>
<FONT size=2 face="sans-serif">Vice President, Hotel Operations</FONT>
        </TD>
    <TD width=20% align=right>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<table width="100%"  border="0" cellspacing="0" cellpadding="4">
  <tr align="left">
    <td colspan="2" valign="top">
      <hr align="left" width="15%" size="1"></td>
  </tr>
  <tr>
    <td width="5%" align="center" valign="top"><font size=2 face="sans-serif">(1)</font></td>
    <td width="95%" align="left" valign="top"><font size=2 face="sans-serif">Same
        address as director&#146;s or officer&#146;s business address except
        where indicated.</font></td>
  </tr>
  <tr>
    <td align="center" valign="top"><font size=2 face="sans-serif">(2)</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Same address
        as director&#146;s or officer&#146;s business address except where indicated.</font></td>
  </tr>
</table>
<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>



<P align="right">
<FONT size=2 face="sans-serif">SCHEDULE D </FONT></P>
<P align="center">
<FONT size=2 face="sans-serif">DIRECTORS AND EXECUTIVE OFFICERS OF INTERCONTINENTAL HOTELS GROUP PCS</FONT></P>
<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">The name, business address, title, present principal occupation or employment of each of the directors and executive officers of Six Continents are set forth below. If no business address is given the
director&#146;s or officer&#146;s business address is 20 North Audley Street, London W1K 6WN, United Kingdom. Unless otherwise indicated, each occupation set forth opposite an individual&#146;s name refers to Six Continents. Unless otherwise
indicated, all of the persons listed below are citizens of the United Kingdom. </FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(1)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Directors</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left>&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">David Webster</FONT></TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Chairman</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Andrew Cosslett</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Chief Executive and Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Richard Hartman</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Executive Director and Managing Director of EMEA</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Stevan Porter</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Executive Director and President, the Americas</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Richard Solomons</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Director and Finance Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">David Kappler</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Ralph Kugler</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Jennifer Laing</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Directro</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Robert C. Larson</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Jonathan Linen</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Sir David Prosser</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=30% align=left>&nbsp;</TD>
  <TD width=5%>&nbsp;</TD>
  <TD width=45% align=left>&nbsp;</TD>
  <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left>
<FONT size=2 face="sans-serif">Sir Howard Stringer</FONT>
        </TD>
        <TD width=5%>&nbsp;
        </TD>
        <TD width=45% align=left> <FONT size=2 face="sans-serif">Non-Executive Director</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
  <tr valign="bottom">
    <td align=left nowrap>&nbsp; </td>
    <td align=left nowrap> &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</td>
    <td align=center nowrap><font size=2 face="sans-serif">Present Principal
        Occupation</font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=center nowrap> <font size=2 face="sans-serif">Name and Business
        Address</font> </td>
    <td align=left nowrap>&nbsp;</td>
    <td align=center nowrap> <font size=2 face="sans-serif">Including Name and
        Address<SUP>(2)</SUP> of Employer </font></td>
    <td align=left nowrap>&nbsp;</td>
  </tr>
  <tr valign="bottom">
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
    <td align=left><hr align="left" width="100%" size="1"></td>
    <td align=left>&nbsp;</td>
  </tr>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">Executive Officers</FONT>
        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom">&nbsp;

        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">(Who Are Not Directors)</FONT>
        </TD>
    <TD width=5% align=left valign="bottom">&nbsp;</TD>
    <TD width=45% align=left valign="bottom">&nbsp;</TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">Peter Gowers</FONT>
        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom"> <FONT size=2 face="sans-serif">Executive Vice President, Global Brand Services</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">A. Patrick Imbardelli</FONT>
        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom"> <FONT size=2 face="sans-serif">Managing Director, Asia Pacific</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">Jim Larson</FONT>
        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom"> <FONT size=2 face="sans-serif">Executive Vie President, Human Resources</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR>
        <TD width="30%" align="left">&nbsp;

        </TD>
    <TD width="5%" align="left">&nbsp;</TD>
    <TD width="45%" align="left">&nbsp;</TD>
    <TD width="20%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">
<FONT size=2 face="sans-serif">Richard Winter</FONT>
        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom"> <FONT size=2 face="sans-serif">Executive Vice President, Corporate Services</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=30% align=left valign="bottom">&nbsp;

        </TD>
        <TD width=5% align="left" valign="bottom">&nbsp;
        </TD>
        <TD width=45% align=left valign="bottom">
<FONT size=2 face="sans-serif">Group Company Secretary and General Counsel</FONT>
        </TD>
    <TD width=20% align=left>&nbsp;</TD>
</TR>
</TABLE>
<BR>
<table width="100%"  border="0" cellspacing="0" cellpadding="4">
  <tr align="left">
    <td colspan="2" valign="top">
      <hr align="left" width="15%" size="1"></td>
  </tr>
  <tr>
    <td width="5%" align="center" valign="top"><font size=2 face="sans-serif">(1)</font></td>
    <td width="95%" align="left" valign="top"><font size=2 face="sans-serif">Same
        address as director&#146;s or officer&#146;s business address except
        where indicated.</font></td>
  </tr>
  <tr>
    <td align="center" valign="top"><font size=2 face="sans-serif">(2)</font></td>
    <td align="left" valign="top"><font size=2 face="sans-serif">Same address
        as director&#146;s or officer&#146;s business address except where indicated.</font></td>
  </tr>
</table>
<br>
<br>
<hr size=3 color=GRAY noshade>
<BR>
<BR>
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.10
<SEQUENCE>2
<FILENAME>ex10.htm
<TEXT>
<HTML>
<HEAD>
   <TITLE></TITLE>
</HEAD>
<BODY bgcolor="#ffffff">
<P align="right"><strong><font size="2">Exhibit 10</font> </strong></P>
<P align="left"><B><FONT size=2 BASEFACE="serif" face="serif">PURCHASE AGREEMENT</FONT></B><FONT size=2 BASEFACE="serif" face="serif">, made as of the 9 day of February, 2006</FONT></P>
<P align="left">
<B><FONT size=2 BASEFACE="serif" face="serif">AMONG</FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(1)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=95%>
<FONT size=2 BASEFACE="serif" face="serif">SCH MINORITY HOLDINGS, LLC, Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346, a Delaware limited liability company (the &#147;</FONT><B><FONT size=2 BASEFACE="serif" face="serif">Seller</FONT></B><FONT
BASEFACE="serif" face="serif">&#148;)</FONT>    </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(2)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=95%>
<FONT size=2 BASEFACE="serif" face="serif">RREEF AMERICA L.L.C., 875 N. Michigan Ave., 41</FONT><SUP><FONT size=2 BASEFACE="serif" face="serif">st </FONT></SUP><FONT size=2 BASEFACE="serif" face="serif">Floor, Chicago, IL 60611, a Delaware limited liability company (the
&#147;</FONT><B><FONT size=2 BASEFACE="serif" face="serif">Buyer</FONT></B><FONT size=2 BASEFACE="serif" face="serif">&#148;), a registered investment adviser registered pursuant to the Investment Advisers Act of 1940, which has discretionary investment
management authority with respect to securities held in its clients&#146; accounts.</FONT>      </TD>
</TR></TABLE>
<P align="left">
<B><FONT size=2 BASEFACE="serif" face="serif">WHEREAS</FONT></B></P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%">&nbsp;</td>
    <td><FONT size=2 BASEFACE="serif" face="serif">The Seller proposes to sell,
        or to cause its relevant affiliates to sell, and the Buyer proposes to
        purchase from the Seller, in each case subject to the terms and conditions
        set out in this Agreement, an aggregate amount of 7,161,697 shares (the &#147;</FONT><font size="2"><B><FONT BASEFACE="serif" face="serif">Sale
        Shares</FONT></B><FONT BASEFACE="serif" face="serif">&#148;) of Common
        Stock, par value &#36;0.01 per share (the &#147;<B>Shares</B>&#148;),
        of FelCor Lodging Trust Incorporated, a Maryland Corporation (the &#147;<B>Company</B>&#148;),
        at a price per Sale Share as set forth below and otherwise on the terms
    set out in this Agreement. </FONT></font></td>
  </tr>
</table>
<P align="left">
<B><FONT size=2 BASEFACE="serif" face="serif">NOW IT IS HEREBY AGREED as follows:</FONT></B></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">1.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Purchase and Sale.</FONT></B>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>
<TD  colspan=2>
<FONT size=2 BASEFACE="serif" face="serif">Subject to the terms and conditions of this Agreement, the Seller hereby agrees to sell to the Buyer the Sale Shares, and the Buyer agrees to purchase such Sale Shares at the purchase price set out below and free
from all pledges, liens, security interests or other encumbrances, including, without limitation, any restrictions on the ability to vote, and with all rights attaching thereto, including, for the avoidance of doubt, any dividends hereafter
declared, made or paid in respect thereof, assuming that the waiver granted by the Company (and a copy of which is attached hereto as Annex II) is valid and is in full force and effect as of the date hereof and as of the Settlement Day (as defined
below).</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">2.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Settlement.</FONT></B>    </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>
<TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The &#147;</FONT><B><FONT size=2 BASEFACE="serif" face="serif">Settlement Day</FONT></B><FONT size=2 BASEFACE="serif" face="serif">&#148; shall be 12:00 p.m. (New York time) on 15 February, 2006.</FONT>   </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>
<TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">On the Settlement Day the Seller shall deliver to the Buyer the Sale Shares in book-entry form or otherwise in the manner agreed by</FONT>   </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR></TABLE>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width=5%>&nbsp;</TD>
<TD width=90%> <font size=2 baseface="serif" face="serif">the parties against
    payment in full in accordance with Section 3. On the Settlement Day the Buyer
    will pay for the Sale Shares so delivered by wire transfer in Federal or
    other immediately available funds to a bank account or accounts designated
    by the Seller or otherwise in the manner agreed by the parties.</font> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">3.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Purchase Price.</FONT></B>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD  colspan=2>
<FONT size=2 BASEFACE="serif" face="serif">The purchase price per share to be paid by the Buyer for the Sale Shares on the Settlement Day shall be &#36;19 per Sale Share delivered on such Settlement Day. The aggregate proceeds payable to the Seller on the
Settlement Day shall be &#36;136,072,243.</FONT>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">4.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Seller Representations, Warranties, Covenants and Undertakings.</FONT></B>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD  colspan=2>
<FONT size=2 BASEFACE="serif" face="serif">The Seller undertakes to execute all such documents and do all such acts and things as the Buyer may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of
the Sale Shares to be carried out and given full force and effect. In addition:</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Seller hereby makes the representations, warranties and undertakings set forth in Annex I, attached hereto and made a part hereof, as of the date hereof and as of the Settlement Day and it shall be a condition
to the Buyer&#146;s obligations hereunder that such representations, warranties and undertakings are true and accurate in all material respects as of the Settlement Day.</FONT>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Seller shall notify the Buyer forthwith if on or prior to the Settlement Day it becomes aware that any of the representations, warranties, undertakings or agreements set out in Annex I hereto ceases to be true
and accurate or becomes misleading in any material respect or that there has been any material breach of any of such representations, warranties, undertakings or agreements.</FONT>    </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">5.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Buyer Representations, Warranties, Covenants and Undertakings</FONT></B><FONT size=2 BASEFACE="serif" face="serif">.</FONT>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD  colspan=2>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer undertakes to execute all such documents and do all such acts and things as the Seller may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of
the Sale Shares to be carried out and given full force and effect. In addition:</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer represents and warrants to the Seller as of the date hereof and as of the Settlement Day that (x) the execution, delivery and performance by the Buyer of this Agreement and the consummation of the
transactions contemplated hereby are within</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 BASEFACE="serif" face="serif">2</FONT><BR>
<BR>
</P>

<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width=5%>&nbsp;</TD>
<TD width=90%> <font size=2 baseface="serif" face="serif">the corporate powers
    of the Buyer and have been duly authorized by all necessary corporate action
    on the part of the Buyer and (y) the Buyer has, or will have prior to the
    Settlement Day, sufficient cash, available lines of credit or other sources
    of immediately available funds, including monies available from calls on
    investors in funds that may be managed by the Buyer, to enable it to make
    payment of the purchase price hereunder.</font> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer has had such opportunity as it has deemed adequate to review the publicly available information regarding the Company and on that basis and without reliance on any express or implied representation or
warranty made by the Seller with respect thereto, the Buyer has such information as is necessary to permit it to evaluate the merits and risk of the transaction contemplated hereby.</FONT>    </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(C)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer has obtained a copy of each of the following registration statements (including prospectus), together with any amendments on file with the United States Securities and Exchange Commission: (i) Form S-3
(File No. 333-122221) dated January 21, 2005, (ii) Post-Effective Amendment No. 1 to Form S- 4 (File No. 333-50509) dated June 1, 1998 and (iii) Form S-3 (File No. 333-125040) dated May 18, 2005.</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(D)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer acknowledges that the Seller has made no representation or warranty, express or implied, with respect to the merits and risks of the transaction contemplated hereby.</FONT>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(E)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">The Buyer has sufficient experience in business, financial and investment matters to be able to evaluate the merits and risks of the transaction contemplated hereby and to make an informed investment decision with
respect to such transaction.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">6.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Miscellaneous</FONT></B><FONT size=2 BASEFACE="serif" face="serif">.</FONT>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">Any time, date or period mentioned in this Agreement may be extended by mutual agreement between the parties hereto, but as regards any time, date or period originally fixed or any time, date or period so extended
as aforesaid, time shall be of the essence.</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">Each party to this Agreement shall pay all of its expenses in connection with this Agreement and the transactions contemplated hereby.</FONT>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(C)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">This Agreement shall constitute the entire agreement on the subject matter between the parties hereto and supersedes any and all prior</FONT>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 BASEFACE="serif" face="serif">3</FONT></P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR>
<br>
<BR>


<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" >&nbsp;</TD>
<TD width=90%> <font size=2 baseface="serif" face="serif">agreements and understandings,
    oral or written, relating to the subject matter hereof.</font> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">(D)</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=90%>
<FONT size=2 BASEFACE="serif" face="serif">This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.</FONT>   </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">7.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Notices</FONT></B><FONT size=2 BASEFACE="serif" face="serif">.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD  colspan=2>
<FONT size=2 BASEFACE="serif" face="serif">Any notice to be given under this Agreement shall be in writing and shall be delivered to or sent by registered or recorded post or by facsimile transmission to the parties&#146; respective addresses or registered
offices as set out in this Agreement or at any other address designated in writing by the receiving party. Any such notice shall be deemed served on the business day of actual receipt; where actual receipt occurs on a day which is a Saturday, Sunday
or bank holiday the effective date of service shall be the first business day following the date of actual receipt or, if earlier, the date upon which receipt shall have been acknowledged.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">8.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD  colspan=2>
<B><FONT size=2 BASEFACE="serif" face="serif">Governing Law; Submission to Jurisdiction</FONT></B><FONT size=2 BASEFACE="serif" face="serif">.</FONT>   </TD>
</TR>
<TR>
  <TD width="5%">&nbsp;</TD>
  <TD width="5%">&nbsp;</TD>
  <TD width="90%">&nbsp;</TD>
</TR>
<TR><TD width="5%">&nbsp;</TD>
  <TD colspan=2> <b><font size=2 baseface="serif" face="serif">THIS AGREEMENT
        SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
        STATE OF NEW YORK. EACH PARTY HERETO, BY EXECUTION AND DELIVERY OF THIS
        AGREEMENT, EXPRESSLY ACCEPTS THE NONEXCLUSIVE JURISDICTION OF ANY UNITED
        STATES FEDERAL OR STATE COURT LOCATED IN THE STATE OF NEW YORK, COUNTY
        OF NEW YORK, IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING BASED ON OR
        ARISING UNDER THIS AGREEMENT. EACH PARTY HERETO IRREVOCABLY WAIVES ANY
        OBJECTION WHICH IT MAY HAVE NOW OR HEREAFTER TO THE LAYING OF THE VENUE
        OF ANY PROCEEDINGS IN SUCH COURTS AND ANY CLAIM THAT ANY SUCH PROCEEDINGS
        HAVE BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER IRREVOCABLY AGREES
        THAT A FINAL </font></b><b><font size=2 baseface="serif" face="serif">JUDGMENT
        IN ANY PROCEEDINGS BROUGHT IN SUCH COURTS SHALL BE CONCLUSIVE AND BINDING
        UPON SUCH PARTY AND MAY BE ENFORCED IN THE COURTS OF ANY OTHER JURISDICTION.
        NOTHING CONTAINED IN THE AGREEMENT SHALL AFFECT THE RIGHT TO SERVE PROCESS
        IN ANY OTHER JURISDICTION FOR THE PURPOSES OF THE ENFORCEMENT OR EXECUTION
        OF ANY JUDGMENT OR OTHER SETTLEMENT IN ANY OTHER COURTS. EACH OF THE
    SELLER AND THE BUYER IRREVOCABLY WAIVE ANY </font></b></TD>
</TR></TABLE>
<P align="center"><FONT size=2 BASEFACE="serif" face="serif">4</FONT><BR>
  <BR>
</P>
<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="left">&nbsp;</P>
<table width="100%"  border="0" cellspacing="0" cellpadding="0">
  <tr>
    <td width="5%">&nbsp;</td>
    <td><b><font size=2 baseface="serif" face="serif">AND ALL RIGHT TO TRIAL
          BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT
    OR THE TRANSACTION CONTEMPLATED HEREBY</font></b><font size=2 baseface="serif" face="serif">.</font></td>
  </tr>
</table>
<P align="left">&nbsp;</P>
<P align="center">
<FONT size=2 BASEFACE="serif" face="serif">5</FONT><BR>
</P>

<BR><BR><HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 BASEFACE="serif" face="serif">IN WITNESS WHEREOF this Agreement has been duly executed as of the day and year first above written.</FONT></P>

<div align="left">
  <table width="50%" border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td colspan="3"> <FONT size=2 BASEFACE="serif" face="serif">SCH MINORITY
      HOLDINGS, LLC</FONT> </td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="83%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">By:</font></td>
      <td colspan="2"><FONT size=2 BASEFACE="serif" face="serif">/s/ Michael
      L. Goodson</FONT></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2"><hr align="left" width=60% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td width="83%"><FONT size=2 BASEFACE="serif" face="serif">Michael L. Goodson</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td width="83%"><FONT size=2 BASEFACE="serif" face="serif">As Attorney</FONT> <font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
  </table>
</div>

<div align="left">
  <table width="50%" border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td colspan="3">&nbsp;</td>
    </tr>
    <tr>
      <td colspan="3">&nbsp;</td>
    </tr>
    <tr>
      <td colspan="3"><FONT size=2 BASEFACE="serif" face="serif">RREEF AMERICA
      L.L.C</FONT></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="83%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">By:</font></td>
      <td colspan="2"><FONT size=2 BASEFACE="serif" face="serif">/s/ Asad Kazim</FONT></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td colspan="2"><hr align="left" width=60% size=1 noshade color="#000000"></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">Name:</font></td>
      <td width="83%"><FONT size=2 BASEFACE="serif" face="serif">Asad Kazim</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td width="7%"><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
      <td width="10%"><font size="2" face="Times New Roman, Times, serif">Title:</font></td>
      <td width="83%"><FONT size=2 BASEFACE="serif" face="serif">Vice President</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
  </table>
</div>
<P align="center"><FONT size=2 BASEFACE="serif" face="serif">6</FONT><BR>
  <BR>
  </P>
<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><FONT size=2 BASEFACE="serif" face="serif">ANNEX I</FONT></B></P>
<P align="center">
<B><FONT size=2 BASEFACE="serif" face="serif">Representations, Warranties and Undertakings of the Seller</FONT></B></P>
<P align="left">
<FONT size=2 BASEFACE="serif" face="serif">The Seller hereby severally represents, warrants and undertakes to the Buyer as follows: </FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">1.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD width="95%" >
<FONT size=2 BASEFACE="serif" face="serif">The Seller has full power under its constitutional documents and applicable law, and all authorizations, approvals, consents and licenses required by it have been unconditionally obtained and are in full force and
effect, to permit such Seller to enter into and perform this Agreement; the execution and delivery by such Seller of, and the performance by such Seller of, this Agreement will not contravene such constitutive documents of such Seller, any provision
of applicable law, any agreement or other instrument binding upon such Seller or any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Seller or any of its assets, and no consent, approval,
authorization or order of, or qualification or filing with, any governmental body or agency is required for the performance by such Seller of its obligations under this Agreement, except such as have already been obtained and are in full force and
effect; and this Agreement has been duly authorized, executed and delivered by such Seller and is a valid and binding agreement of such Seller;</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">2.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD width="95%" >
<FONT size=2 BASEFACE="serif" face="serif">Assuming that the waiver granted by the Company with respect to ownership of shares in excess of 9.9% is valid and is in full force and effect as of the date hereof and as of the Settlement Day, the Seller is the
record and beneficial owner of the Sale Shares, free and clear of any lien and has the legal right and power to sell and transfer the Sale Shares and the transfer of the Sale Shares by such Seller to the Buyer will pass title to such shares, free
and clear of all security interests, liens, encumbrances, equities or other claims including, without limitation, any restrictions on the ability to vote; and</FONT>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT size=2 BASEFACE="serif" face="serif">3.</FONT>&nbsp; &nbsp; &nbsp;        </TD>
        <TD width="95%" >
<FONT size=2 BASEFACE="serif" face="serif">The Sale Shares are registered on, and are being sold pursuant to, one or more effective registration statements currently on file with the United States Securities and Exchange Commission.</FONT> </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR></TABLE>
<P align="center">
<FONT size=2 BASEFACE="serif" face="serif">7</FONT><BR>
</P>

<HR noshade align="center" width="100%" size=3><PAGE><BR><BR>


<P align="center">
<B><FONT size=2 BASEFACE="serif" face="serif">ANNEX II</FONT></B></P>
<P align="center">
<P align="center">
<B><FONT size="2" face="serif" BASEFACE="serif">UNANIMOUS WRITTEN CONSENT OF<br>
THE EXECUTIVE
COMMITTEE OF THE<br>
</FONT></B><font size="2"><B><FONT BASEFACE="serif" face="serif">BOARD OF DIRECTORS OF<br>
FELCOR LODGING TRUST INCORPORATED<br>
IN
LIEU OF A<br>
SPECIAL MEETING</FONT></B></font></P>
<P align="center">
  <FONT size="2" face="serif" BASEFACE="serif"><strong>February </strong></FONT><font size="2"><strong><FONT BASESIZE=2 BASEFACE="serif" face="serif">7, </FONT><FONT BASEFACE="serif" face="serif">2006</FONT></strong></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">Pursuant
  to Section 2-408(c) of the Maryland General Corporation Law, the undersigned,
  constituting all of the members of the Executive Committee of the Board of
  Directors of FelCor Lodging Trust Incorporated, a Maryland corporation (the &#147;Corporation&#148;),
  do hereby consent that when all of the members of the Executive Committee of
  the Board of Directors have signed this written consent, or an exact counterpart
  hereof, the preambles </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">resolutions
  below shall be passed </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2
size=2 BASEFACE="serif" face="serif">adopted as resolutions of the Executive
  Committee of the Boardof Directors to have the same force and effect as if
  adopted at a special meeting of the Executive Committee of the Board of Directors
  duly called
</FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">held </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">hereby
direct that
</FONT><FONT size="2" face="serif" BASEFACE="serif">this </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">written
consent to such action be filed </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">the minutes of the proceedings of the Executive </FONT><FONT size="2" face="serif" BASEFACE="serif">Committee </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">of
the Board of Directors of the Corporation:</FONT></P>
<P align="center"><font size="2"><u>
<FONT BASESIZE=2 BASEFACE="serif" face="serif">Exemption From Prohibition
of Ownership of More than 9.9% of the Outstanding Shares<br>
of Any </FONT><FONT BASEFACE="serif" face="serif">Class </FONT><FONT BASESIZE=2 BASEFACE="serif"
face="serif">of Equity Stock.</FONT></u></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
certain subsidiaries of InterContinental Hotels Group plc </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(collectively, &#147;IHG&#148;) hold an aggregate of 10,032,428 shares of the outstanding common stock of the Corporation (the &#147;Common Stock&#148;),
representing approximately 17.5% of the issued </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">outstanding Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  subsections D.(2) and D.(3) of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">Article </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">V
  of the Charter of the Corporation prohibit the Beneficial Ownership and Constructive
  Ownership of more than 9.9% of the outstanding shares of any class of Equity
  Stock of the Corporation (the &#147;Ownership Limit&#148;), provided that,
  the Board of Directors may, pursuant to subsection D.(9) of Article V, exempt
  certain specified shares of </FONT><FONT size="2" face="serif" BASEFACE="serif">Equity </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Stock
  of the Corporation proposed to be  transferred to, </FONT><FONT size="2" face="serif" BASEFACE="serif">and/or </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owned
  by, a person who </FONT><FONT size="2" face="serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">provided the Board of Directors with such evidence, undertakings </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">assurances
as the Board of Directors may require that such transfer to, and/or ownership
by, such person of the specified shares will not prevent the continued qualification
of the Corporation as a Real Estate Investment Trust (&#147;REIT&#148;) under
the Internal Revenue Code of 1986, as amended (the
&#147;Code&#148;), </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
regulations promulgated under the Code; </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2
BASEFACE="serif" face="serif">pursuant to such subsection D.(9), the Board of
Directors previously granted an exemption with respect to the ownership by IHG
of the Corporation&#146;s Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  IHG now desires to transfer the majority of the shares of Common Stock owned
  by it in a block sale to RREEF America, L.L.C. (&#147;RREEF&#148;), and
in</FONT></font></P>
<P align="center"><font size="2" face="serif">1</font></P>
<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">connection with such
  proposed transfer, RREEF, on its own behalf and on behalf of its affiliates
  (the &#147;Affiliates&#148;), has requested an exemption from the Ownership
Limit;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  RREEF is an investment adviser, registered pursuant to the Investment Advisers
  Act of 1940, which has discretionary investment management authority with respect
  to securities held in its clients&#146; accounts, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF&#146;s
  clients </FONT><FONT size="2" face="serif" BASEFACE="serif">are </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">primarily institutional investors, such as public and private pension funds and investment companies who custody their securities with custodians of their </FONT><FONT size="2" face="serif" BASEFACE="serif">own
</FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">selection;</FONT></P>
<P align="left">
  <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif">WHEREAS,
  RREEF has represented to the Corporation that it is a passive investor which
  may be deemed to &#147;beneficially own&#148; its clients&#146; securities
   solely by virtue of certain rules and regulations under the Securities Exchange
  Act of 1934 (the &#147;Exchange Act&#148;) </FONT></font><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">which
broadly define &#147;beneficial owner&#148; as a person who </FONT><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">voting
power and/or investment power </FONT><font size="2" face="Times New Roman, Times, serif"><I><FONT BASESIZE=2
BASEFACE="sans-serif">(see </FONT></I><FONT BASESIZE=2 BASEFACE="serif">Rule
13d-3 under the Exchange Act), however RREEF does not directly hold its clients&#146; securities
and has no economic interest in its  clients&#146; securities;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the vast majority of RREEF&#146;s clients, including its registered investment
  company clients, and most of its government </FONT></font><FONT size="2"
face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">pension </FONT><FONT size="2" face="serif" BASEFACE="serif">fund </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">clients, </FONT><FONT size="2"
face="serif" BASEFACE="serif">are </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">not
  treated as &#147;individuals&#148; for purposes of the &#147;five-or-fewer&#148; test
  applicable to REITs </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF has disclaimed purchasing
  the Common Stock for the purpose of or </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
  effect of  changing or influencing the control of the Corporation;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
the Executive Committee of the Board of Directors has been advised that granting
RREEF an exemption from the Ownership Limit would not prevent the continued
qualification of the Corporation as a REIT;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the Executive Committee of the Board of Directors understands that Hunton &amp; Williams LLP will deliver an opinion to the effect that the Corporation will
not fail to qualify as a REIT as a result of granting an exemption to RREEF with respect to RREEF&#146;s
acquisition, in the aggregate with the holdings of its Affiliates, of Common
Stock in excess of the Ownership Limit;</FONT></font></P>
<P>
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">NOW,
  THEREFORE, BE IT RESOLVED, that, the Corporation hereby exempts RREEF (the &#147;Exemption&#148;)
from the Ownership Limit with respect to the beneficial </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">constructive
ownership (as determined pursuant to Article V of the Charter) by RREEF (together
with its Affiliates) of up to </FONT><font size="2"><FONT
BASEFACE="serif" face="serif">17.5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
the outstanding shares of the Common Stock, subject to the terms and conditions
described in these resolutions;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Exemption (i) is conditioned on (A) RREEF and its Affiliates
  having discretionary investment management authority over no more than 17.5%,
   in the aggregate, of the outstanding Common Stock at any time, (B) no individual
  account managed by </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owning
  through RREEF, beneficially or  constructively (as determined pursuant to Article
  V of the Charter), more than </FONT><font size="2"><FONT BASEFACE="serif" face="serif">5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
  the outstanding Common Stock; and (C) no Person (as  that term is defined by
  the Code) that owns Common Stock through a RREEF account beneficially or constructively
  owning</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">2</FONT></P>

<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(as determined pursuant
  to Article V of the Charter) more than 9.9% of the outstanding Common Stock
  of the Company at any time, and (ii) will be automatically revoked to the extent
  that any of the  above conditions is breached;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Board of Directors reserves the right to examine the effects,
  if any, on the Corporation&#146;s REIT status of RREEF&#146;s ownership of
   Common Stock in excess of the Ownership Limit, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">further reserves the right to suspend, revoke, or modify the RREEF Exemption at any time to
the extent necessary for the Corporation to maintain its REIT status;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">directed to notify the appropriate RREEF representative of the Exemption </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">all
  of the conditions thereon, as set forth in these  resolutions; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized, in his discretion,
  to review periodically the ownership of Common Stock by RREEF, including making
   appropriate inquiries of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF, </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">and
to report, in his discretion, to the Board of Directors any facts or circumstances
as a result of which beneficial ownership of Common Stock by RREEF threatens
or jeopardizes the Corporation&#146;s status as a REIT; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER RESOLVED, that the effective date of these resolutions shall be February 7, 2006.</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">3</FONT><font size="2"><BR>
  <BR>
  </font></P>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">IN
  WITNESS WHEREOF, the undersigned have executed this </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">consent to be effective as of the date written above.</FONT></P>

<div align="right">
  <table width="50%"  border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">/s/ Donald J.
          McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Donald J. McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">/s/ Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
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    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">/s/
            Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
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      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT></td>
    </tr>
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<DOCUMENT>
<TYPE>EX-99.11
<SEQUENCE>3
<FILENAME>ex11.htm
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<BODY bgcolor="#ffffff">
<p>&nbsp;</p>
<p align="right"><strong><font size="2" face="serif">Exhibit 11</font> </strong></p>
<p><B><FONT BASEFACE="serif" face="serif">PURCHASE AGREEMENT</FONT></B><FONT BASEFACE="serif" face="serif">, made as of the 9 day of February, 2006</FONT>
</p>
<P align="left">
<B><FONT BASEFACE="serif" face="serif">AMONG </FONT></B></P>
<TABLE width=100% border=0 cellpadding=0 cellspacing=0>
<TR valign="bottom">
        <TD align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">(1)</FONT>
        </TD>
        <TD colspan=2 align=left>
<FONT BASEFACE="serif" face="serif">SIX CONTINENTS HOTELS, INC., Three Ravinia Drive, Suite 100,</FONT>
<FONT BASEFACE="serif" face="serif">Atlanta, Georgia 30346, a Delaware corporation (the &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Seller</FONT></B><FONT BASEFACE="serif" face="serif">&#148;)</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top" nowrap>&nbsp;</TD>
  <TD colspan=2 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">(2)</FONT>
        </TD>
        <TD colspan=2 align=left>
<FONT BASEFACE="serif" face="serif">RREEF AMERICA L.L.C., 875 N. Michigan Ave., 41</FONT><SUP><FONT BASEFACE="serif" face="serif">st </FONT></SUP><FONT BASEFACE="serif" face="serif">Floor, Chicago, IL</FONT>
<FONT BASEFACE="serif" face="serif">60611, a Delaware limited liability company (the &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Buyer</FONT></B><FONT BASEFACE="serif" face="serif">&#148;), a registered</FONT>
<FONT BASEFACE="serif" face="serif">investment adviser registered pursuant to the Investment Advisers Act of</FONT>
<FONT BASEFACE="serif" face="serif">1940, which has discretionary investment management authority with</FONT>
<FONT BASEFACE="serif" face="serif">respect to securities held in its clients&#146; accounts.</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD nowrap colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD nowrap colspan=3 align=left>
<B><FONT BASEFACE="serif" face="serif">WHEREAS</FONT></B>
        </TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD colspan=2 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD align=left nowrap>&nbsp;

        </TD>
        <TD colspan=2 align=left>
<FONT BASEFACE="serif" face="serif">The Seller proposes to sell, or to cause its relevant affiliates to sell, and the</FONT>
<FONT BASEFACE="serif" face="serif">Buyer proposes to purchase from the Seller, in each case subject to the</FONT>
<FONT BASEFACE="serif" face="serif">terms and conditions set out in this Agreement, an aggregate amount of</FONT>
<FONT BASEFACE="serif" face="serif">1,924,618 shares (the &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Sale Shares</FONT></B><FONT BASEFACE="serif" face="serif">&#148;) of Common Stock, par value &#36;0.01</FONT>
<FONT BASEFACE="serif" face="serif">per share (the &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Shares</FONT></B><FONT BASEFACE="serif" face="serif">&#148;), of FelCor Lodging Trust Incorporated, a</FONT>
<FONT BASEFACE="serif" face="serif">Maryland Corporation (the &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Company</FONT></B><FONT BASEFACE="serif" face="serif">&#148;), at a price per Sale Share as set</FONT>
<FONT BASEFACE="serif" face="serif">forth below and otherwise on the terms set out in this Agreement.</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD colspan=3 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left>
<B><FONT BASEFACE="serif" face="serif">NOW IT IS HEREBY AGREED as follows:</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top" nowrap>&nbsp;</TD>
  <TD colspan=2 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=5% align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">1.</FONT>   </TD>
        <TD colspan=2 align=left>
          <p><B><FONT BASEFACE="serif" face="serif">Purchase and Sale.</FONT></B></p>
          <p><FONT BASEFACE="serif" face="serif">Subject to the terms and conditions of this Agreement, the Seller hereby</FONT>
            <FONT BASEFACE="serif" face="serif">agrees to sell to the Buyer the Sale Shares, and the Buyer agrees to</FONT>
            <FONT BASEFACE="serif" face="serif">purchase such Sale Shares at the purchase price set out below and free</FONT>
            <FONT BASEFACE="serif" face="serif">from all pledges, liens, security interests or other encumbrances, including,</FONT>
            <FONT BASEFACE="serif" face="serif">without limitation, any restrictions on the ability to vote, and with all</FONT>
            <FONT BASEFACE="serif" face="serif">rights attaching thereto, including, for the avoidance of doubt, any</FONT>
            <FONT BASEFACE="serif" face="serif">dividends hereafter declared, made or paid in respect thereof, assuming</FONT>
            <FONT BASEFACE="serif" face="serif">that the waiver granted by the Company (and a copy of which is attached</FONT>
            <FONT BASEFACE="serif" face="serif">hereto as Annex II) is valid and is in full force and effect as of the date</FONT>
            <FONT BASEFACE="serif" face="serif">hereof and as of the Settlement Day (as defined below).</FONT>
              </p></TD>
</TR>
<TR valign="bottom">
  <TD align=left valign="top" nowrap>&nbsp;</TD>
  <TD colspan=2 align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=5% align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">2.</FONT>
        </TD>
        <TD nowrap colspan=2 align=left>
<B><FONT BASEFACE="serif" face="serif">Settlement.</FONT></B>
        </TD>
</TR>
<TR valign="bottom">
  <TD width=5% align=left valign="top" nowrap>&nbsp;</TD>
  <TD align=left valign="top" nowrap>&nbsp;</TD>
  <TD align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=5% align=left valign="top" nowrap>&nbsp;</TD>
        <TD width=5% align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">(A)</FONT>
        </TD>
        <TD width=90% align=left>
<FONT BASEFACE="serif" face="serif">The &#147;</FONT><B><FONT BASEFACE="serif" face="serif">Settlement Day</FONT></B><FONT BASEFACE="serif" face="serif">&#148; shall be 12:00 p.m. (New York time) on 15</FONT>
<FONT BASEFACE="serif" face="serif">February, 2006.</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=left nowrap>&nbsp;</TD>
  <TD width=5% align=left valign="top" nowrap>&nbsp;</TD>
  <TD width=90% align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=5% align=left nowrap>&nbsp;

        </TD>
        <TD width=5% align=left valign="top" nowrap>
<FONT BASEFACE="serif" face="serif">(B)</FONT>
        </TD>
        <TD width=90% align=left>
<FONT BASEFACE="serif" face="serif">On the Settlement Day the Seller shall deliver to the Buyer the Sale</FONT>
<FONT BASEFACE="serif" face="serif">Shares in book-entry form or otherwise in the manner agreed by</FONT>
<FONT BASEFACE="serif" face="serif">the parties against payment in full in accordance with Section 3.</FONT>
        </TD>
</TR>
</TABLE>
<BR>

<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width=5%>&nbsp;
</TD>
<TD width=90%><FONT BASEFACE="serif" face="serif">On the Settlement Day the Buyer will pay for the Sale Shares so delivered by wire transfer in Federal or other immediately available funds to a bank account or accounts designated by the Seller or otherwise in the manner agreed by the parties.</FONT></TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">3.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Purchase Price.</FONT></B>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD>&nbsp;</TD> <TD colspan=2>
<FONT BASEFACE="serif" face="serif">The purchase price per share to be paid by the Buyer for the Sale Shares on the Settlement Day shall be &#36;19 per Sale Share delivered on such Settlement Day. The aggregate proceeds payable to the Seller on the
Settlement Day shall be &#36;36,567,742.</FONT> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">4.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Seller Representations, Warranties, Covenants and Undertakings.</FONT></B>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD colspan=2>
<FONT BASEFACE="serif" face="serif">The Seller undertakes to execute all such documents and do all such acts and things as the Buyer may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of
the Sale Shares to be carried out and given full force and effect. In addition:</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Seller hereby makes the representations, warranties and undertakings set forth in Annex I, attached hereto and made a part hereof, as of the date hereof and as of the Settlement Day and it shall be a condition
to the Buyer&#146;s obligations hereunder that such representations, warranties and undertakings are true and accurate in all material respects as of the Settlement Day.</FONT>        </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Seller shall notify the Buyer forthwith if on or prior to the Settlement Day it becomes aware that any of the representations, warranties, undertakings or agreements set out in Annex I hereto ceases to be true
and accurate or becomes misleading in any material respect or that there has been any material breach of any of such representations, warranties, undertakings or agreements.</FONT>    </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">5.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Buyer Representations, Warranties, Covenants and Undertakings</FONT></B><FONT BASEFACE="serif" face="serif">.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD colspan=2>
<FONT BASEFACE="serif" face="serif">The Buyer undertakes to execute all such documents and do all such acts and things as the Seller may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of
the Sale Shares to be carried out and given full force and effect. In addition:</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Buyer represents and warrants to the Seller as of the date hereof and as of the Settlement Day that (x) the execution, delivery and performance by the Buyer of this Agreement and the consummation of the
transactions contemplated hereby are within the corporate powers of the Buyer and have been duly authorized</FONT>      </TD>
</TR>
</TABLE>

<P align="center"><font size="2" face="serif">2</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width=5%>&nbsp;
        </TD>
<TD width=90%><FONT BASEFACE="serif" face="serif">by all necessary corporate action on the part of the Buyer and (y) the Buyer has, or will have prior to the Settlement Day, sufficient cash, available lines of credit or other sources of immediately available funds, including monies available from calls on investors in funds that may be managed by the Buyer, to enable it to make payment of the purchase price hereunder.</FONT></TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Buyer has had such opportunity as it has deemed adequate to review the publicly available information regarding the Company and on that basis and without reliance on any express or implied representation or
warranty made by the Seller with respect thereto, the Buyer has such information as is necessary to permit it to evaluate the merits and risk of the transaction contemplated hereby.</FONT>    </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(C)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Buyer has obtained a copy of each of the following registration statements (including prospectus), together with any amendments on file with the United States Securities and Exchange Commission: (i) Form S-3
(File No. 333-122221) dated January 21, 2005, (ii) Post-Effective Amendment No. 1 to Form S- 4 (File No. 333-50509) dated June 1, 1998 and (iii) Form S-3 (File No. 333-125040) dated May 18, 2005.</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(D)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Buyer acknowledges that the Seller has made no representation or warranty, express or implied, with respect to the merits and risks of the transaction contemplated hereby.</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(E)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">The Buyer has sufficient experience in business, financial and investment matters to be able to evaluate the merits and risks of the transaction contemplated hereby and to make an informed investment decision with
respect to such transaction.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">6.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Miscellaneous</FONT></B><FONT BASEFACE="serif" face="serif">.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(A)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD>
<FONT BASEFACE="serif" face="serif">Any time, date or period mentioned in this Agreement may be extended by mutual agreement between the parties hereto, but as regards any time, date or period originally fixed or any time, date or period so extended
as aforesaid, time shall be of the essence.</FONT>      </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(B)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD>
<FONT BASEFACE="serif" face="serif">Each party to this Agreement shall pay all of its expenses in connection with this Agreement and the transactions contemplated hereby.</FONT>       </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(C)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD>
<FONT BASEFACE="serif" face="serif">This Agreement shall constitute the entire agreement on the subject matter between the parties hereto and supersedes any and all prior</FONT>       </TD>
</TR>
</TABLE>

<P align="center"><font size="2" face="serif">3</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
<TR>
<TD width="5%">&nbsp;</TD>      <TD width=5%>&nbsp;
</TD>
<TD width=90%><FONT BASEFACE="serif" face="serif">agreements and understandings, oral or written, relating to the subject matter hereof.</FONT> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">(D)</FONT>&nbsp; &nbsp; &nbsp;      </TD>
        <TD width=90%>
<FONT BASEFACE="serif" face="serif">This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.</FONT>  </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">7.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Notices</FONT></B><FONT BASEFACE="serif" face="serif">.</FONT>   </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>      <TD colspan=2>
<FONT BASEFACE="serif" face="serif">Any notice to be given under this Agreement shall be in writing and shall be delivered to or sent by registered or recorded post or by facsimile transmission to the parties&#146; respective addresses or registered
offices as set out in this Agreement or at any other address designated in writing by the receiving party. Any such notice shall be deemed served on the business day of actual receipt; where actual receipt occurs on a day which is a Saturday, Sunday
or bank holiday the effective date of service shall be the first business day following the date of actual receipt or, if earlier, the date upon which receipt shall have been acknowledged.</FONT>     </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">8.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">Governing Law; Submission to Jurisdiction</FONT></B><FONT BASEFACE="serif" face="serif">.</FONT> </TD>
</TR>
<TR><TD colspan=3>&nbsp;</TD></TR><TR>
<TD width="5%">&nbsp;</TD>
<TD colspan=2>
<B><FONT BASEFACE="serif" face="serif">THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH PARTY HERETO, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EXPRESSLY ACCEPTS THE NONEXCLUSIVE
JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN THE STATE OF NEW YORK, COUNTY OF NEW YORK, IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING BASED ON OR ARISING UNDER THIS AGREEMENT. EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION
WHICH IT MAY HAVE NOW OR HEREAFTER TO THE LAYING OF THE VENUE OF ANY PROCEEDINGS IN SUCH COURTS AND ANY CLAIM THAT ANY SUCH PROCEEDINGS HAVE BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER IRREVOCABLY AGREES THAT A FINAL</FONT></B>       <B><FONT BASEFACE="serif" face="serif">JUDGMENT IN ANY PROCEEDINGS BROUGHT IN SUCH COURTS SHALL BE CONCLUSIVE AND BINDING UPON SUCH PARTY AND MAY BE ENFORCED IN THE COURTS OF ANY OTHER JURISDICTION. NOTHING CONTAINED IN THE AGREEMENT SHALL AFFECT THE RIGHT TO SERVE PROCESS IN ANY OTHER JURISDICTION FOR THE PURPOSES OF THE ENFORCEMENT OR EXECUTION OF ANY JUDGMENT OR OTHER SETTLEMENT IN ANY OTHER COURTS. EACH OF THE SELLER AND THE BUYER IRREVOCABLY WAIVE ANY</FONT></B></TD>
</TR>
</TABLE>

<P align="center"><font size="2" face="serif">4</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>




<TABLE width="100%" border=0 cellpadding=0 cellspacing=0>
  <TR>
    <TD width="5%">&nbsp;</TD>
    <TD colspan=2> <B><FONT BASEFACE="serif" face="serif">AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTION CONTEMPLATED HEREBY</FONT></B><FONT BASEFACE="serif" face="serif">.</FONT></TD>
  </TR>
</TABLE>

<P align="center"><font size="2" face="serif">5</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASEFACE="serif" face="serif">IN WITNESS WHEREOF this Agreement has been duly executed as of the day and year first above written. </FONT></P>

<BR>
<BR>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
    <FONT BASEFACE="serif" face="serif">SIX CONTINENTS HOTELS, INC.</FONT>      </TD>
  </TR>
<TR valign="bottom">
  <TD nowrap align=left>&nbsp;</TD>
  <TD nowrap align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% nowrap align=left><FONT BASEFACE="serif" face="serif">By:&nbsp;&nbsp;</FONT></TD>
        <TD width=98% nowrap align=left><FONT BASEFACE="serif" face="serif">/s/ Michael L. Goodson</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD nowrap align=left>&nbsp;</TD>
  <TD nowrap align=left><hr align="left" width="45%" size="1" noshade></TD>
</TR>
<TR valign="bottom">
  <TD width=2% nowrap align=left>&nbsp;</TD>
        <TD width=98% nowrap align=left><FONT BASEFACE="serif" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Michael L. Goodson</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD width=2% nowrap align=left>&nbsp;</TD>
        <TD width=98% nowrap align=left> <FONT BASEFACE="serif" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: As Attorney</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD colspan="2" align=left nowrap>
    <FONT BASEFACE="serif" face="serif">RREEF AMERICA L.L.C.</FONT>     </TD>
  </TR>
<TR valign="bottom">
  <TD nowrap align=left>&nbsp;</TD>
  <TD nowrap align=left>&nbsp;</TD>
</TR>
<TR valign="bottom">
  <TD width=2% nowrap align=left><FONT BASEFACE="serif" face="serif">By:</FONT></TD>
        <TD width=98% nowrap align=left><FONT BASEFACE="serif" face="serif">/s/ Asad Kazim</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=center>&nbsp;</TD>
  <TD align=left><hr align="left" width="45%" size="1" noshade></TD>
</TR>
<TR valign="bottom">
  <TD align=center width=2%>&nbsp;</TD>
        <TD align=left width=98%><FONT BASEFACE="serif" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Name: Asad Kazim</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD align=center width=2%>&nbsp;</TD>
        <TD align=left width=98%><FONT BASEFACE="serif" face="serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Title: Vice President</FONT>
        </TD>
</TR>
</TABLE>
<BR>

<P align="center"><font size="2" face="serif">6</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<P align="center">
<B><FONT BASEFACE="serif" face="serif">ANNEX I </FONT></B></P>
<P align="center">
<B><FONT BASEFACE="serif" face="serif">Representations, Warranties and Undertakings of the Seller </FONT></B></P>
<P align="left">
<FONT BASEFACE="serif" face="serif">The Seller hereby severally represents, warrants and undertakes to the Buyer as follows:</FONT></P>
<TABLE border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">1.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=95%>
<FONT BASEFACE="serif" face="serif">The Seller has full power under its constitutional documents and applicable law, and all authorizations, approvals, consents and licenses required by it have been unconditionally obtained and are in full force and
effect, to permit such Seller to enter into and perform this Agreement; the execution and delivery by such Seller of, and the performance by such Seller of, this Agreement will not contravene such constitutive documents of such Seller, any provision
of applicable law, any agreement or other instrument binding upon such Seller or any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Seller or any of its assets, and no consent, approval,
authorization or order of, or qualification or filing with, any governmental body or agency is required for the performance by such Seller of its obligations under this Agreement, except such as have already been obtained and are in full force and
effect; and this Agreement has been duly authorized, executed and delivered by such Seller and is a valid and binding agreement of such Seller;</FONT>  </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">2.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=95%>
<FONT BASEFACE="serif" face="serif">Assuming that the waiver granted by the Company with respect to ownership of shares in excess of 9.9% is valid and is in full force and effect as of the date hereof and as of the Settlement Day, the Seller is the
record and beneficial owner of the Sale Shares, free and clear of any lien and has the legal right and power to sell and transfer the Sale Shares and the transfer of the Sale Shares by such Seller to the Buyer will pass title to such shares, free
and clear of all security interests, liens, encumbrances, equities or other claims including, without limitation, any restrictions on the ability to vote; and</FONT>   </TD>
</TR>
<TR><TD colspan=2>&nbsp;</TD></TR><TR>
        <TD width="5%" valign=top nowrap>
<FONT BASEFACE="serif" face="serif">3.</FONT>&nbsp; &nbsp; &nbsp;       </TD>
        <TD width=95%>
<FONT BASEFACE="serif" face="serif">The Sale Shares are registered on, and are being sold pursuant to, one or more effective registration statements currently on file with the United States Securities and Exchange Commission.</FONT>        </TD>
</TR>
</TABLE>

<P align="center"><font size="2" face="serif">7</font></P>
<br><br><HR noshade align="center" width="100%" size=3><PAGE><br><br>


<P align="center">
<B><FONT BASEFACE="serif" face="serif">ANNEX II </FONT></B></P>
<P align="center">
<B><FONT size="2" face="serif" BASEFACE="serif">UNANIMOUS WRITTEN CONSENT OF<br>
THE EXECUTIVE
COMMITTEE OF THE<br>
</FONT></B><font size="2"><B><FONT BASEFACE="serif" face="serif">BOARD OF DIRECTORS OF<br>
FELCOR LODGING TRUST INCORPORATED<br>
IN
LIEU OF A<br>
SPECIAL MEETING</FONT></B></font></P>
<P align="center">
  <FONT size="2" face="serif" BASEFACE="serif"><strong>February </strong></FONT><font size="2"><strong><FONT BASESIZE=2 BASEFACE="serif" face="serif">7, </FONT><FONT BASEFACE="serif" face="serif">2006</FONT></strong></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">Pursuant
  to Section 2-408(c) of the Maryland General Corporation Law, the undersigned,
  constituting all of the members of the Executive Committee of the Board of
  Directors of FelCor Lodging Trust Incorporated, a Maryland corporation (the &#147;Corporation&#148;),
  do hereby consent that when all of the members of the Executive Committee of
  the Board of Directors have signed this written consent, or an exact counterpart
  hereof, the preambles </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">resolutions
  below shall be passed </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2
size=2 BASEFACE="serif" face="serif">adopted as resolutions of the Executive
  Committee of the Boardof Directors to have the same force and effect as if
  adopted at a special meeting of the Executive Committee of the Board of Directors
  duly called
</FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">held </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">hereby
direct that
</FONT><FONT size="2" face="serif" BASEFACE="serif">this </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">written
consent to such action be filed </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">the minutes of the proceedings of the Executive </FONT><FONT size="2" face="serif" BASEFACE="serif">Committee </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">of
the Board of Directors of the Corporation:</FONT></P>
<P align="center"><font size="2"><u>
<FONT BASESIZE=2 BASEFACE="serif" face="serif">Exemption From Prohibition
of Ownership of More than 9.9% of the Outstanding Shares<br>
of Any </FONT><FONT BASEFACE="serif" face="serif">Class </FONT><FONT BASESIZE=2 BASEFACE="serif"
face="serif">of Equity Stock.</FONT></u></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
certain subsidiaries of InterContinental Hotels Group plc </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(collectively, &#147;IHG&#148;) hold an aggregate of 10,032,428 shares of the outstanding common stock of the Corporation (the &#147;Common Stock&#148;),
representing approximately 17.5% of the issued </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">outstanding Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  subsections D.(2) and D.(3) of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">Article </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">V
  of the Charter of the Corporation prohibit the Beneficial Ownership and Constructive
  Ownership of more than 9.9% of the outstanding shares of any class of Equity
  Stock of the Corporation (the &#147;Ownership Limit&#148;), provided that,
  the Board of Directors may, pursuant to subsection D.(9) of Article V, exempt
  certain specified shares of </FONT><FONT size="2" face="serif" BASEFACE="serif">Equity </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Stock
  of the Corporation proposed to be  transferred to, </FONT><FONT size="2" face="serif" BASEFACE="serif">and/or </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owned
  by, a person who </FONT><FONT size="2" face="serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">provided the Board of Directors with such evidence, undertakings </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">assurances
as the Board of Directors may require that such transfer to, and/or ownership
by, such person of the specified shares will not prevent the continued qualification
of the Corporation as a Real Estate Investment Trust (&#147;REIT&#148;) under
the Internal Revenue Code of 1986, as amended (the
&#147;Code&#148;), </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
regulations promulgated under the Code; </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2
BASEFACE="serif" face="serif">pursuant to such subsection D.(9), the Board of
Directors previously granted an exemption with respect to the ownership by IHG
of the Corporation&#146;s Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  IHG now desires to transfer the majority of the shares of Common Stock owned
  by it in a block sale to RREEF America, L.L.C. (&#147;RREEF&#148;), and
in</FONT></font></P>
<P align="center"><font size="2" face="serif">1</font></P>
<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">connection with such
  proposed transfer, RREEF, on its own behalf and on behalf of its affiliates
  (the &#147;Affiliates&#148;), has requested an exemption from the Ownership
Limit;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  RREEF is an investment adviser, registered pursuant to the Investment Advisers
  Act of 1940, which has discretionary investment management authority with respect
  to securities held in its clients&#146; accounts, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF&#146;s
  clients </FONT><FONT size="2" face="serif" BASEFACE="serif">are </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">primarily institutional investors, such as public and private pension funds and investment companies who custody their securities with custodians of their </FONT><FONT size="2" face="serif" BASEFACE="serif">own
</FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">selection;</FONT></P>
<P align="left">
  <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif">WHEREAS,
  RREEF has represented to the Corporation that it is a passive investor which
  may be deemed to &#147;beneficially own&#148; its clients&#146; securities
   solely by virtue of certain rules and regulations under the Securities Exchange
  Act of 1934 (the &#147;Exchange Act&#148;) </FONT></font><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">which
broadly define &#147;beneficial owner&#148; as a person who </FONT><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">voting
power and/or investment power </FONT><font size="2" face="Times New Roman, Times, serif"><I><FONT BASESIZE=2
BASEFACE="sans-serif">(see </FONT></I><FONT BASESIZE=2 BASEFACE="serif">Rule
13d-3 under the Exchange Act), however RREEF does not directly hold its clients&#146; securities
and has no economic interest in its  clients&#146; securities;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the vast majority of RREEF&#146;s clients, including its registered investment
  company clients, and most of its government </FONT></font><FONT size="2"
face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">pension </FONT><FONT size="2" face="serif" BASEFACE="serif">fund </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">clients, </FONT><FONT size="2"
face="serif" BASEFACE="serif">are </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">not
  treated as &#147;individuals&#148; for purposes of the &#147;five-or-fewer&#148; test
  applicable to REITs </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF has disclaimed purchasing
  the Common Stock for the purpose of or </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
  effect of  changing or influencing the control of the Corporation;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
the Executive Committee of the Board of Directors has been advised that granting
RREEF an exemption from the Ownership Limit would not prevent the continued
qualification of the Corporation as a REIT;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the Executive Committee of the Board of Directors understands that Hunton &amp; Williams LLP will deliver an opinion to the effect that the Corporation will
not fail to qualify as a REIT as a result of granting an exemption to RREEF with respect to RREEF&#146;s
acquisition, in the aggregate with the holdings of its Affiliates, of Common
Stock in excess of the Ownership Limit;</FONT></font></P>
<P>
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">NOW,
  THEREFORE, BE IT RESOLVED, that, the Corporation hereby exempts RREEF (the &#147;Exemption&#148;)
from the Ownership Limit with respect to the beneficial </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">constructive
ownership (as determined pursuant to Article V of the Charter) by RREEF (together
with its Affiliates) of up to </FONT><font size="2"><FONT
BASEFACE="serif" face="serif">17.5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
the outstanding shares of the Common Stock, subject to the terms and conditions
described in these resolutions;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Exemption (i) is conditioned on (A) RREEF and its Affiliates
  having discretionary investment management authority over no more than 17.5%,
   in the aggregate, of the outstanding Common Stock at any time, (B) no individual
  account managed by </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owning
  through RREEF, beneficially or  constructively (as determined pursuant to Article
  V of the Charter), more than </FONT><font size="2"><FONT BASEFACE="serif" face="serif">5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
  the outstanding Common Stock; and (C) no Person (as  that term is defined by
  the Code) that owns Common Stock through a RREEF account beneficially or constructively
  owning</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">2</FONT></P>

<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(as determined pursuant
  to Article V of the Charter) more than 9.9% of the outstanding Common Stock
  of the Company at any time, and (ii) will be automatically revoked to the extent
  that any of the  above conditions is breached;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Board of Directors reserves the right to examine the effects,
  if any, on the Corporation&#146;s REIT status of RREEF&#146;s ownership of
   Common Stock in excess of the Ownership Limit, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">further reserves the right to suspend, revoke, or modify the RREEF Exemption at any time to
the extent necessary for the Corporation to maintain its REIT status;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">directed to notify the appropriate RREEF representative of the Exemption </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">all
  of the conditions thereon, as set forth in these  resolutions; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized, in his discretion,
  to review periodically the ownership of Common Stock by RREEF, including making
   appropriate inquiries of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF, </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">and
to report, in his discretion, to the Board of Directors any facts or circumstances
as a result of which beneficial ownership of Common Stock by RREEF threatens
or jeopardizes the Corporation&#146;s status as a REIT; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER RESOLVED, that the effective date of these resolutions shall be February 7, 2006.</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">3</FONT><font size="2"><BR>
  <BR>
  </font></P>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">IN
  WITNESS WHEREOF, the undersigned have executed this </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">consent to be effective as of the date written above.</FONT></P>

<div align="right">
  <table width="50%"  border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">/s/ Donald J.
          McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Donald J. McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">/s/ Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">/s/
            Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT></td>
    </tr>
  </table>
  <font size="2"><BR>
  <BR>
  </font>
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<HR noshade align="center" width="100%" size=3>
<BR><BR>
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<DOCUMENT>
<TYPE>EX-99.12
<SEQUENCE>4
<FILENAME>ex12.htm
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<BODY bgcolor="#ffffff">
<p align="right"><strong><font size="2" face="Times New Roman, Times, serif">Exhibit 12</font></strong></p>
<P align="left">
<FONT size=2 face="sans-serif"><strong>PURCHASE AGREEMENT</strong>, made as of the 9 day of February, 2006</FONT></P>
<P align="left">
<FONT size=2 face="sans-serif"><strong>AMONG</strong></FONT></P>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(1)</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">INTERCONTINENTAL HOTELS GROUP RESOURCES, INC., successor in interest to Bristol Hotels &amp; Resorts, Three Ravinia Drive, Suite 100, Atlanta, Georgia 30346, a Delaware corporation (the &#147;<strong>Seller</strong>&#148;)</FONT>    </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(2)</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">RREEF AMERICA L.L.C., 875 N. Michigan Ave., 41<SUP>st </SUP>Floor,
Chicago, IL 60611, a Delaware limited liability company (the &#147;<strong>Buyer</strong>&#148;), a registered investment adviser registered
pursuant to the Investment Advisers Act of 1940, which has discretionary investment management authority with respect to securities held in its clients&#146; accounts.</FONT>  </TD>
</TR>
</TABLE>
<P align="left">
<FONT size=2 face="sans-serif"><strong>WHEREAS</strong></FONT></P>
<blockquote>
  <p align="left">
    <FONT size=2 face="sans-serif">The Seller proposes to sell, or to cause its relevant affiliates to sell, and the Buyer proposes to purchase from the Seller, in each case subject to the terms and conditions set out in this Agreement, an aggregate amount of 413,685 shares
    (the &#147;<strong>Sale Shares</strong>&#148;) of Common Stock, par value &#36;0.01
    per share (the &#147;<strong>Shares</strong>&#148;), of FelCor Lodging Trust Incorporated, a
    Maryland Corporation (the &#147;<strong>Company</strong>&#148;), at a price per Sale Share as
    set forth below and otherwise on the terms set out in this Agreement. </FONT></p>
</blockquote>
<P align="left">
<FONT size=2 face="sans-serif"><strong>NOW IT IS HEREBY AGREED as follows:</strong></FONT></P>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">1.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Purchase and Sale.</strong></FONT>       </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">Subject to the terms and conditions of this Agreement, the Seller hereby agrees to sell to the Buyer the Sale Shares, and the Buyer agrees to purchase such Sale Shares at the purchase price set out below and free from all pledges, liens,
security interests or other encumbrances, including, without limitation, any restrictions on the ability to vote, and with all rights attaching thereto, including, for the avoidance of doubt, any dividends hereafter declared, made or paid in respect
thereof, assuming that the waiver granted by the Company (and a copy of which is attached hereto as Annex II) is valid and is in full force and effect as of the date hereof and as of the Settlement Day (as defined below).</FONT>    </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">2.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Settlement.</strong></FONT>      </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(A)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The &#147;<strong>Settlement Day</strong>&#148; shall
be 12:00 p.m. (New York time) on 15 February, 2006.</FONT>      </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(B)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">On the Settlement Day the Seller shall deliver to the Buyer the Sale Shares in book-entry form or otherwise in the manner agreed by</FONT>       </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<blockquote>
  <blockquote>
    <p align="left">
      <FONT size=2 face="sans-serif">the parties against payment in full in accordance with Section 3. On the Settlement Day the Buyer will pay for the Sale Shares so delivered by wire transfer in Federal or other immediately available funds to a bank account or accounts
      designated by the Seller or otherwise in the manner agreed by the parties.</FONT></p>
  </blockquote>
</blockquote>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">3.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Purchase Price.</strong></FONT>  </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">The purchase price per share to be paid by the Buyer for the Sale Shares on the Settlement Day shall be &#36;19 per Sale Share delivered on such Settlement Day. The aggregate proceeds payable to the Seller on the Settlement Day shall be
&#36;7,860,015.</FONT>  </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">4.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Seller Representations, Warranties, Covenants and Undertakings.</strong></FONT>  </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">The Seller undertakes to execute all such documents and do all such acts and things as the Buyer may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of the Sale Shares to be carried
out and given full force and effect. In addition:</FONT>        </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(A)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Seller hereby makes the representations, warranties and undertakings set forth in Annex I, attached hereto and made a part hereof, as of the date hereof and as of the Settlement Day and it shall be a condition to the Buyer&#146;s
obligations hereunder that such representations, warranties and undertakings are true and accurate in all material respects as of the Settlement Day.</FONT>    </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(B)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Seller shall notify the Buyer forthwith if on or prior to the Settlement Day it becomes aware that any of the representations, warranties, undertakings or agreements set out in Annex I hereto ceases to be true and accurate or becomes
misleading in any material respect or that there has been any material breach of any of such representations, warranties, undertakings or agreements.</FONT>    </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">5.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Buyer Representations, Warranties, Covenants and Undertakings</strong></FONT><strong><FONT size=2 face="sans-serif">.</FONT>     </strong></TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer undertakes to execute all such documents and do all such acts and things as the Seller may reasonably require in order to give effect to the terms of this Agreement and to enable the sale and purchase of the Sale Shares to be carried
out and given full force and effect. In addition:</FONT>        </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(A)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer represents and warrants to the Seller as of the date hereof and as of the Settlement Day that (x) the execution, delivery and performance by the Buyer of this Agreement and the consummation of the transactions contemplated hereby are
within</FONT>   </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<P align="center">
<FONT size=2 face="sans-serif">2</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">the corporate powers of the Buyer and have been duly authorized by all necessary corporate action on the part of the Buyer and (y) the Buyer has, or will have prior to the Settlement Day, sufficient cash, available lines of credit or other
sources of immediately available funds, including monies available from calls on investors in funds that may be managed by the Buyer, to enable it to make payment of the purchase price hereunder.</FONT>      </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(B)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer has had such opportunity as it has deemed adequate to review the publicly available information regarding the Company and on that basis and without reliance on any express or implied representation or warranty made by the Seller with
respect thereto, the Buyer has such information as is necessary to permit it to evaluate the merits and risk of the transaction contemplated hereby.</FONT>     </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(C)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer has obtained a copy of each of the following registration statements (including prospectus), together with any amendments on file with the United States Securities and Exchange Commission: (i) Form S-3 (File No. 333-122221) dated
January 21, 2005, (ii) Post-Effective Amendment No. 1 to Form S- 4 (File No. 333-50509) dated June 1, 1998 and (iii) Form S-3 (File No. 333-125040) dated May 18, 2005.</FONT>  </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(D)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer acknowledges that the Seller has made no representation or warranty, express or implied, with respect to the merits and risks of the transaction contemplated hereby.</FONT>   </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(E)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">The Buyer has sufficient experience in business, financial and investment matters to be able to evaluate the merits and risks of the transaction contemplated hereby and to make an informed investment decision with respect to such
transaction.</FONT>     </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">6.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Miscellaneous</strong></FONT><strong><FONT size=2 face="sans-serif">.</FONT>     </strong></TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(A)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">Any time, date or period mentioned in this Agreement may be extended by mutual agreement between the parties hereto, but as regards any time, date or period originally fixed or any time, date or period so extended as aforesaid, time shall be
of the essence.</FONT>  </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(B)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">Each party to this Agreement shall pay all of its expenses in connection with this Agreement and the transactions contemplated hereby.</FONT>    </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(C)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">This Agreement shall constitute the entire agreement on the subject matter between the parties hereto and supersedes any and all prior</FONT>    </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<P align="center">
<FONT size=2 face="sans-serif">3</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">agreements and understandings, oral or written, relating to the subject matter hereof.</FONT>    </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>&nbsp;</TD>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">(D)</FONT></TD>
        <TD width=90% align="left" valign="top">
<FONT size=2 face="sans-serif">This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.</FONT>       </TD>
</TR>
<TR>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="90%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">7.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Notices</strong></FONT><strong><FONT size=2 face="sans-serif">.</FONT>   </strong></TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">Any notice to be given under this Agreement shall be in writing and shall be delivered to or sent by registered or recorded post or by facsimile transmission to the parties&#146; respective addresses or registered offices as set out in this
Agreement or at any other address designated in writing by the receiving party. Any such notice shall be deemed served on the business day of actual receipt; where actual receipt occurs on a day which is a Saturday, Sunday or bank holiday the
effective date of service shall be the first business day following the date of actual receipt or, if earlier, the date upon which receipt shall have been acknowledged.</FONT> </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">8.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>Governing Law; Submission to Jurisdiction</strong></FONT><strong><FONT size=2 face="sans-serif">.</FONT> </strong></TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
<TD width="5%" align="left" valign="top">&nbsp;</TD>
<TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif"><strong>THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH PARTY HERETO, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EXPRESSLY ACCEPTS THE NONEXCLUSIVE JURISDICTION OF ANY UNITED STATES
FEDERAL OR STATE COURT LOCATED IN THE STATE OF NEW YORK, COUNTY OF NEW YORK, IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING BASED ON OR ARISING UNDER THIS AGREEMENT. EACH PARTY HERETO IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY HAVE NOW OR HEREAFTER
TO THE LAYING OF THE VENUE OF ANY PROCEEDINGS IN SUCH COURTS AND ANY CLAIM THAT ANY SUCH PROCEEDINGS HAVE BEEN BROUGHT IN AN INCONVENIENT FORUM AND FURTHER IRREVOCABLY AGREES THAT A FINAL</strong></FONT>     <strong><font size=2 face="sans-serif">JUDGMENT
IN ANY PROCEEDINGS BROUGHT IN SUCH COURTS SHALL BE CONCLUSIVE AND BINDING UPON
SUCH PARTY AND MAY BE ENFORCED IN THE COURTS OF ANY OTHER JURISDICTION. NOTHING
CONTAINED IN THE AGREEMENT SHALL AFFECT THE RIGHT TO SERVE PROCESS IN ANY OTHER
JURISDICTION FOR THE PURPOSES OF THE ENFORCEMENT OR EXECUTION OF ANY JUDGMENT
OR OTHER SETTLEMENT IN ANY OTHER COURTS. EACH OF THE SELLER AND THE BUYER IRREVOCABLY
WAIVE ANY</font></strong></TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<P align="center">
<FONT size=2 face="sans-serif">4</FONT><br>
<br>
</P>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<blockquote>
  <p align="left">
    <FONT size=2 face="sans-serif"><strong>AND ALL RIGHT TO TRIAL BY JURY IN ANY
    LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTION
    CONTEMPLATED HEREBY.</strong></FONT></p>
</blockquote>
<P align="center">
<FONT size=2 face="sans-serif">5</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<P align="left">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT size=2 face="sans-serif">IN WITNESS WHEREOF this Agreement has been duly executed as of the day and year first above written.</FONT></P>
<TABLE border=0 width=100% cellspacing=0 cellpadding=0>
<TR valign="bottom">
        <TD colspan=3 align=left nowrap>
<FONT size=2 face="sans-serif">INTERCONTINENTAL HOTELS GROUP RESOURCES, INC.</FONT>
        </TD>
  </TR>
<TR>
        <TD width="4%" align="left" nowrap>&nbsp;

        </TD>
    <TD width="6%" nowrap>&nbsp;</TD>
    <TD width="88%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left nowrap>
<FONT size=2 face="sans-serif">By:&nbsp; </FONT><FONT size=2 face="sans-serif">/s/&nbsp;</FONT>
        </TD>
    <TD colspan=2 align=left nowrap><font size=2 face="sans-serif">Mike L. Goodson</font></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>
<hr align="right" width="45%" size="1"></TD>
  <TD nowrap><hr align="right" width="100%" size="1"></TD>
  <TD align=left><hr align="left" width="25%" size="1"></TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left nowrap>&nbsp; </TD>
        <TD width=6% nowrap><FONT size=2 face="sans-serif">Name:</FONT>
        </TD>
        <TD width=88% align=left>
 <FONT size=2 face="sans-serif">Mike L. Goodson</FONT>
        </TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left nowrap>&nbsp; </TD>
        <TD width=6% nowrap><FONT size=2 face="sans-serif">Title:</FONT>
        </TD>
        <TD width=88% align=left> <FONT size=2 face="sans-serif">As Attorney</FONT>
        </TD>
</TR>
<TR>
        <TD width="4%" align="left" nowrap>&nbsp;

        </TD>
    <TD width="6%" nowrap>&nbsp;</TD>
    <TD width="88%" align="left">&nbsp;</TD>
</TR>
<TR>
        <TD width="4%" align="left" nowrap>&nbsp;

        </TD>
    <TD width="6%" nowrap>&nbsp;</TD>
    <TD width="88%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD colspan=3 align=left nowrap>
<FONT size=2 face="sans-serif">RREEF AMERICA L.L.C.</FONT>
        </TD>
  </TR>
<TR>
        <TD width="4%" align="left" nowrap>&nbsp;

        </TD>
    <TD width="6%" nowrap>&nbsp;</TD>
    <TD width="88%" align="left">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD width=4% align=left nowrap>
<FONT size=2 face="sans-serif">By:</FONT><FONT size=2 face="sans-serif">&nbsp;&nbsp;/s/&nbsp;</FONT>
        </TD>
    <TD colspan=2 align=left nowrap><font size=2 face="sans-serif">Asad Kazim</font></TD>
  </TR>
<TR valign="bottom">
  <TD align=left nowrap>
    <hr align="right" width="45%" size="1"></TD>
  <TD nowrap><hr align="right" width="100%" size="1"></TD>
  <TD align=left><hr align="left" width="25%" size="1"></TD>
</TR>
<TR valign="bottom">
  <TD width=4% align=left nowrap>&nbsp; </TD>
  <TD width=6% nowrap><FONT size=2 face="sans-serif">Name:</FONT> </TD>
        <TD width=88% align=left> <FONT size=2 face="sans-serif">Asad Kazim</FONT>
        </TD>
</TR>
<TR valign="bottom">
  <TD width=4% align=left nowrap>&nbsp; </TD>
  <TD width=6% nowrap><FONT size=2 face="sans-serif">Title:</FONT> </TD>
        <TD width=88% align=left>
<FONT size=2 face="sans-serif">Vice President</FONT>
        </TD>
</TR>
</TABLE>
<BR>
<P align="center">
<FONT size=2 face="sans-serif">6</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<P align="center">
<FONT size=2 face="sans-serif"><strong>ANNEX I</strong></FONT></P>
<P align="center"><FONT size=2 face="sans-serif"><strong>Representations, Warranties
      and Undertakings of the Seller</strong></FONT></P>
<P align="left">
<FONT size=2 face="sans-serif">The Seller hereby severally represents, warrants and undertakes to the Buyer as follows: </FONT></P>
<TABLE width=100% border=0 cellspacing=0 cellpadding=0>
<TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">1.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">The Seller has full power under its constitutional documents and applicable law, and all authorizations, approvals, consents and licenses required by it have been unconditionally obtained and are in full force and effect, to permit such Seller
to enter into and perform this Agreement; the execution and delivery by such Seller of, and the performance by such Seller of, this Agreement will not contravene such constitutive documents of such Seller, any provision of applicable law, any
agreement or other instrument binding upon such Seller or any judgment, order or decree of any governmental body, agency or court having jurisdiction over such Seller or any of its assets, and no consent, approval, authorization or order of, or
qualification or filing with, any governmental body or agency is required for the performance by such Seller of its obligations under this Agreement, except such as have already been obtained and are in full force and effect; and this Agreement has
been duly authorized, executed and delivered by such Seller and is a valid and binding agreement of such Seller;</FONT> </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">2.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">Assuming that the waiver granted by the Company with respect to ownership of shares in excess of 9.9% is valid and is in full force and effect as of the date hereof and as of the Settlement Day, the Seller is the record and beneficial owner of
the Sale Shares, free and clear of any lien and has the legal right and power to sell and transfer the Sale Shares and the transfer of the Sale Shares by such Seller to the Buyer will pass title to such shares, free and clear of all security
interests, liens, encumbrances, equities or other claims including, without limitation, any restrictions on the ability to vote; and</FONT>     </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR><TR>
        <TD width="5%" align="left" valign=top nowrap>
<FONT size=2 face="sans-serif">3.</FONT></TD>
        <TD width=95% align="left" valign="top">
<FONT size=2 face="sans-serif">The Sale Shares are registered on, and are being sold pursuant to, one or more effective registration statements currently on file with the United States Securities and Exchange Commission.</FONT>     </TD>
</TR>
<TR><TD width="5%" align="left" valign="top">&nbsp;</TD>
  <TD width="95%" align="left" valign="top">&nbsp;</TD>
</TR></TABLE>
<P align="center">
<FONT size=2 face="sans-serif">7</FONT></P>

<br>
<br>
<hr size=3 color=GRAY noshade>
<PAGE>
<br>
<br>




<P align="center">
<FONT size=2 face="sans-serif">ANNEX II</FONT></P>
<P align="center">
<B><FONT size="2" face="serif" BASEFACE="serif">UNANIMOUS WRITTEN CONSENT OF<br>
THE EXECUTIVE
COMMITTEE OF THE<br>
</FONT></B><font size="2"><B><FONT BASEFACE="serif" face="serif">BOARD OF DIRECTORS OF<br>
FELCOR LODGING TRUST INCORPORATED<br>
IN
LIEU OF A<br>
SPECIAL MEETING</FONT></B></font></P>
<P align="center">
  <FONT size="2" face="serif" BASEFACE="serif"><strong>February </strong></FONT><font size="2"><strong><FONT BASESIZE=2 BASEFACE="serif" face="serif">7, </FONT><FONT BASEFACE="serif" face="serif">2006</FONT></strong></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">Pursuant
  to Section 2-408(c) of the Maryland General Corporation Law, the undersigned,
  constituting all of the members of the Executive Committee of the Board of
  Directors of FelCor Lodging Trust Incorporated, a Maryland corporation (the &#147;Corporation&#148;),
  do hereby consent that when all of the members of the Executive Committee of
  the Board of Directors have signed this written consent, or an exact counterpart
  hereof, the preambles </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">resolutions
  below shall be passed </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2
size=2 BASEFACE="serif" face="serif">adopted as resolutions of the Executive
  Committee of the Boardof Directors to have the same force and effect as if
  adopted at a special meeting of the Executive Committee of the Board of Directors
  duly called
</FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">held </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">hereby
direct that
</FONT><FONT size="2" face="serif" BASEFACE="serif">this </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">written
consent to such action be filed </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">the minutes of the proceedings of the Executive </FONT><FONT size="2" face="serif" BASEFACE="serif">Committee </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">of
the Board of Directors of the Corporation:</FONT></P>
<P align="center"><font size="2"><u>
<FONT BASESIZE=2 BASEFACE="serif" face="serif">Exemption From Prohibition
of Ownership of More than 9.9% of the Outstanding Shares<br>
of Any </FONT><FONT BASEFACE="serif" face="serif">Class </FONT><FONT BASESIZE=2 BASEFACE="serif"
face="serif">of Equity Stock.</FONT></u></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
certain subsidiaries of InterContinental Hotels Group plc </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(collectively, &#147;IHG&#148;) hold an aggregate of 10,032,428 shares of the outstanding common stock of the Corporation (the &#147;Common Stock&#148;),
representing approximately 17.5% of the issued </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">outstanding Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  subsections D.(2) and D.(3) of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">Article </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">V
  of the Charter of the Corporation prohibit the Beneficial Ownership and Constructive
  Ownership of more than 9.9% of the outstanding shares of any class of Equity
  Stock of the Corporation (the &#147;Ownership Limit&#148;), provided that,
  the Board of Directors may, pursuant to subsection D.(9) of Article V, exempt
  certain specified shares of </FONT><FONT size="2" face="serif" BASEFACE="serif">Equity </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Stock
  of the Corporation proposed to be  transferred to, </FONT><FONT size="2" face="serif" BASEFACE="serif">and/or </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owned
  by, a person who </FONT><FONT size="2" face="serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">provided the Board of Directors with such evidence, undertakings </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">assurances
as the Board of Directors may require that such transfer to, and/or ownership
by, such person of the specified shares will not prevent the continued qualification
of the Corporation as a Real Estate Investment Trust (&#147;REIT&#148;) under
the Internal Revenue Code of 1986, as amended (the
&#147;Code&#148;), </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
regulations promulgated under the Code; </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2
BASEFACE="serif" face="serif">pursuant to such subsection D.(9), the Board of
Directors previously granted an exemption with respect to the ownership by IHG
of the Corporation&#146;s Common Stock;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  IHG now desires to transfer the majority of the shares of Common Stock owned
  by it in a block sale to RREEF America, L.L.C. (&#147;RREEF&#148;), and
in</FONT></font></P>
<P align="center"><font size="2" face="serif">1</font></P>
<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">connection with such
  proposed transfer, RREEF, on its own behalf and on behalf of its affiliates
  (the &#147;Affiliates&#148;), has requested an exemption from the Ownership
Limit;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  RREEF is an investment adviser, registered pursuant to the Investment Advisers
  Act of 1940, which has discretionary investment management authority with respect
  to securities held in its clients&#146; accounts, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF&#146;s
  clients </FONT><FONT size="2" face="serif" BASEFACE="serif">are </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">primarily institutional investors, such as public and private pension funds and investment companies who custody their securities with custodians of their </FONT><FONT size="2" face="serif" BASEFACE="serif">own
</FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">selection;</FONT></P>
<P align="left">
  <font size="2" face="Times New Roman, Times, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif">WHEREAS,
  RREEF has represented to the Corporation that it is a passive investor which
  may be deemed to &#147;beneficially own&#148; its clients&#146; securities
   solely by virtue of certain rules and regulations under the Securities Exchange
  Act of 1934 (the &#147;Exchange Act&#148;) </FONT></font><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">which
broadly define &#147;beneficial owner&#148; as a person who </FONT><FONT size="2" face="Times New Roman, Times, serif" BASEFACE="serif">has </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">voting
power and/or investment power </FONT><font size="2" face="Times New Roman, Times, serif"><I><FONT BASESIZE=2
BASEFACE="sans-serif">(see </FONT></I><FONT BASESIZE=2 BASEFACE="serif">Rule
13d-3 under the Exchange Act), however RREEF does not directly hold its clients&#146; securities
and has no economic interest in its  clients&#146; securities;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the vast majority of RREEF&#146;s clients, including its registered investment
  company clients, and most of its government </FONT></font><FONT size="2"
face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">pension </FONT><FONT size="2" face="serif" BASEFACE="serif">fund </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">clients, </FONT><FONT size="2"
face="serif" BASEFACE="serif">are </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">not
  treated as &#147;individuals&#148; for purposes of the &#147;five-or-fewer&#148; test
  applicable to REITs </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT
BASESIZE=2 size=2 BASEFACE="serif" face="serif">RREEF has disclaimed purchasing
  the Common Stock for the purpose of or </FONT><FONT size="2" face="serif" BASEFACE="serif">with </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">the
  effect of  changing or influencing the control of the Corporation;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
the Executive Committee of the Board of Directors has been advised that granting
RREEF an exemption from the Ownership Limit would not prevent the continued
qualification of the Corporation as a REIT;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">WHEREAS,
  the Executive Committee of the Board of Directors understands that Hunton &amp; Williams LLP will deliver an opinion to the effect that the Corporation will
not fail to qualify as a REIT as a result of granting an exemption to RREEF with respect to RREEF&#146;s
acquisition, in the aggregate with the holdings of its Affiliates, of Common
Stock in excess of the Ownership Limit;</FONT></font></P>
<P>
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">NOW,
  THEREFORE, BE IT RESOLVED, that, the Corporation hereby exempts RREEF (the &#147;Exemption&#148;)
from the Ownership Limit with respect to the beneficial </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">constructive
ownership (as determined pursuant to Article V of the Charter) by RREEF (together
with its Affiliates) of up to </FONT><font size="2"><FONT
BASEFACE="serif" face="serif">17.5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
the outstanding shares of the Common Stock, subject to the terms and conditions
described in these resolutions;</FONT></font></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Exemption (i) is conditioned on (A) RREEF and its Affiliates
  having discretionary investment management authority over no more than 17.5%,
   in the aggregate, of the outstanding Common Stock at any time, (B) no individual
  account managed by </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">owning
  through RREEF, beneficially or  constructively (as determined pursuant to Article
  V of the Charter), more than </FONT><font size="2"><FONT BASEFACE="serif" face="serif">5%</FONT> <FONT BASESIZE=2 BASEFACE="serif" face="serif">of
  the outstanding Common Stock; and (C) no Person (as  that term is defined by
  the Code) that owns Common Stock through a RREEF account beneficially or constructively
  owning</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">2</FONT></P>

<font size="2"><BR>
<BR>
</font>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">(as determined pursuant
  to Article V of the Charter) more than 9.9% of the outstanding Common Stock
  of the Company at any time, and (ii) will be automatically revoked to the extent
  that any of the  above conditions is breached;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that the Board of Directors reserves the right to examine the effects,
  if any, on the Corporation&#146;s REIT status of RREEF&#146;s ownership of
   Common Stock in excess of the Ownership Limit, </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">further reserves the right to suspend, revoke, or modify the RREEF Exemption at any time to
the extent necessary for the Corporation to maintain its REIT status;</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized </FONT></font><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">directed to notify the appropriate RREEF representative of the Exemption </FONT><FONT size="2" face="serif" BASEFACE="serif">and </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">all
  of the conditions thereon, as set forth in these  resolutions; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER
  RESOLVED, that Lawrence D. Robinson is hereby authorized, in his discretion,
  to review periodically the ownership of Common Stock by RREEF, including making
   appropriate inquiries of </FONT></font><FONT size="2" face="serif" BASEFACE="serif">RREEF, </FONT><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">and
to report, in his discretion, to the Board of Directors any facts or circumstances
as a result of which beneficial ownership of Common Stock by RREEF threatens
or jeopardizes the Corporation&#146;s status as a REIT; and</FONT></P>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">FURTHER RESOLVED, that the effective date of these resolutions shall be February 7, 2006.</FONT></font></P>
<P align="center">
  <FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">3</FONT><font size="2"><BR>
  <BR>
  </font></P>
<HR noshade align="center" width="100%" size=3>
<font size="2"><PAGE><BR>
<BR>


</font>
<P align="left">
  <font size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT BASESIZE=2 BASEFACE="serif" face="serif">IN
  WITNESS WHEREOF, the undersigned have executed this </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif"
face="serif">consent to be effective as of the date written above.</FONT></P>

<div align="right">
  <table width="50%"  border="0" cellspacing="0" cellpadding="0">
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">/s/ Donald J.
          McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><FONT BASESIZE=2 size=2 BASEFACE="serif" face="serif">Donald J. McNamara</FONT><font size="2">&nbsp;</font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">/s/ Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="serif" face="serif">Robert
      H. Lutz, J.</FONT></font></td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td>&nbsp;</td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">/s/
            Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT><font size="2" face="Times New Roman, Times, serif">&nbsp;</font></td>
    </tr>
    <tr>
      <td><HR noshade align="left" width="50%" size=1></td>
    </tr>
    <tr>
      <td><font size="2"><FONT BASESIZE=2 BASEFACE="monospace" face="Times New Roman, Times, serif">Richard </FONT></font><FONT BASESIZE=2 size=2 BASEFACE="serif" face="Times New Roman, Times, serif">A.
      Smith</FONT></td>
    </tr>
  </table>
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  <BR>
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