|IRVING, Texas, July 27, 2004 - FelCor Lodging Trust Incorporated (NYSE:
FCH), the nation's second largest hotel real estate investment trust (REIT),
today announced Linda Ghaffari as President of OwnerOptimizer, a division
of FelCor Lodging Trust.
OwnerOptimizer will focus on providing E-business strategies to maximize revenue opportunities at FelCor-owned hotels. In her role, Mrs. Ghaffari will work with FelCor's brand managers, InterContinental Hotels Group, Hilton Hotels, and Starwood Hotels & Resorts to grow Internet revenues by increasing bookings at brand-direct web sites. According to PhoCusWright, industry Internet bookings are steadily increasing and projected to be 27 percent of room revenue by year-end 2006. With the growth in Internet business, FelCor sees an opportunity to have a direct impact on profitability by strategically shifting high cost third-party business to the lowest cost distribution channel, brand.com.
"I am very excited by the opportunity to optimize Internet bookings for our hotels through our brands' web sites. We will accomplish this through ongoing training and implementation of proactive E-business strategies with our hotels. With this increased knowledge and know-how, our hotels will be able to maximize revenues and profits by shifting Internet bookings directly to their specific brand web site," said Mrs. Ghaffari.
"I am pleased to announce Linda's new role at FelCor," said Thomas J. Corcoran, Jr., FelCor's President and CEO. "Her expertise in the hospitality industry and knowledge of Internet E-business strategies will bring substantial value to FelCor and our brand managers as we partner together to increase online booking revenues that have traditionally been captured by third-party intermediaries."
Mrs. Ghaffari was most recently Vice President of Asset Management for FelCor. Prior to FelCor, she was Director of Operations for Bass Hotels & Resorts (now a part of InterContinental Hotels Group). Mrs. Ghaffari's past hotel assignments include more than 11 years experience with Bristol Hotels & Resorts in senior management positions.
FelCor is the nation's second largest lodging REIT and the largest owner of full service, all-suite hotels. FelCor's consolidated portfolio is comprised of 153 hotels, located in 33 states and Canada. FelCor owns 71 upscale, all-suite hotels, and is the owner of the largest number of Embassy Suites Hotels(R) and Doubletree Guest Suites(R) hotels in the U.S. FelCor's portfolio also includes 71 hotels in the upscale and full service segments.
With the exception of historical information, the matters discussed in this news release include "forward looking statements" within the meaning of the federal securities laws that are qualified by cautionary statements contained herein and in FelCor's filings with the Securities and Exchange Commission.
FelCor Lodging Trust Incorporated
|Also See:||Linda Ghaffari, Formerly the Director of Operations for Bass Hotels & Resorts, Named Vice President of Asset Management for FelCor Lodging Trust Incorporated / Feb 2001|
|FelCor's EVP and CFO Richard J. O’Brien Resigns / April 2004|