Keyword: FelCor Lodging Trust
The Dallas-based hotel fund manager picked Jan Kuehnemann to serve in the position.
RLJ will continue to update the hotel following the sale, with renovations expected to complete in 2019.
FelCor will become a wholly owned RLJ subsidiary at the end of August.
Changes to the hotel industry over the past two decades have affected the bottom line, which has become more difficult to attain and has diminished over time.
FelCor will become part of a wholly owned subsidiary of RLJ in an all-stock transaction.
Steven R. Goldman has been involved in all aspects of hotel operations, acquisitions and divestitures, finance and development for more than 33 years.
Rumors are buzzing that FelCor Lodging Trust, which controls more than 30 hotels around the country, is looking to be acquired.
REITs are on the buying sidelines and not acquiring hotels at a time when the delta between new supply and demand is shrinking.
While stability is a fair way to describe the current state of the global hotel industry, there is still a wait-and-see feeling: There are many factors out there that could dampen or delight.
COO Troy A. Pentecost has been appointed to the additional positions of president and interim senior executive officer, effective immediately.