Consumer >> CEO Interviews >> April 6, 2000
THOMAS J. CORCORAN, JR., together with Hervey Feldman, founded FelCor,
Inc. in 1991. In 1994, they took the company public with six hotels and
a market capitalization of approximately $120 million as a Real Estate
Investment Trust on the NASDAQ national market under the name FelCor
Suite Hotels, Inc. and in 1996 listed on the New York Stock Exchange as
FCH. Mr. Corcoran has served since its formation as President and Chief
Executive Officer of FelCor and Mr. Feldman is Chairman Emeritus. In
July 1998, the company changed its name to FelCor Lodging Trust
Incorporated. FelCor Lodging Trust Incorporated is one of the nation's
largest hotel REITs. The company focuses on the acquisition of hotels at
below their replacement cost and repositioning and/or rebranding them
for strong internal growth. FelCor's hotel portfolio is concentrated
primarily in the upscale and full-service segments. Since its initial
public offering in 1994, the company's portfolio has grown to 188 hotels
with nearly 50,000 rooms and suites, located in 35 states and Canada.
The company maintains strategic relationships with key hotel brand
owners/management companies. These include Hilton Hotels Corporation,
Bass Hotels & Resorts and Starwood Hotels & Resorts, Worldwide, Inc.
FelCor is the owner of the largest number of Embassy Suites, Crowne
Plaza, Holiday Inn and independently owned Doubletree branded hotels.
Other leading hotel brands under which FelCor's hotels are operated
include Sheraton Suites, Sheraton and Westin. FelCor has a current
market capitalization of approximately $3.2 billion. Mr. Corcoran's long
history of management in the lodging and foodservice industry began with
Brock Hotel Corporation in Topeka, Kanasas. During his 11 years with
Brock, Mr. Corcoran held positions in mergers and acquisitions,
financial planning and project development and franchise sales for Chuck
E. Cheese Entertainment, Inc. (formerly ShowBiz Pizza Place, Inc.). His
roles with the company included President and Chief Executive Officer
and he was a member of the board of directors. Mr. Corcoran earned a JD
degree from Washburn Law School and was a member of the Kansas Bar
Association. He is active in various political campaigns, has worked as
an advance person for the White House, and was appointed by President
Carter as a member of the National Highway Safety Advisory Committee.
Mr. Corcoran's strengths lie in his proven ability to manage various
business situations by reorganization, restructuring, recapitalization,
or refinancing. His diversified talents will help assure FelCor's
ongoing success. Profile
Incorporated, including the company's history, properties, customers,
etc.?
Mr. Corcoran: The company started out as a
