Goldman takes over the position and a board seat at FelCor (NYSE: FCH) effective March 1. Prior to being hired to the Irving company’s top post, he served as president of SH Group, an affiliate of Starwood Capital Group that oversees the development and management of Starwood’s luxury and lifestyle hotel brands 1 Hotels and Baccarat Hotels and Resorts.
“Steve is a tremendously talented executive who brings an ideal combination of operational and transactional experience to our company, as we continue to pursue all paths to create value for shareholders,” Thomas Cocoran Jr., FelCor’s chairman of the board, said in a prepared statement. “He has worked with many leading hotel companies and demonstrated an exceptional ability to generate returns for investors at the property, portfolio, and corporate levels.”
In addition to his experience with Starwood, Goldman has served as president, CEO and board member of Sunstone Hotel Investors; head of global development and asset management for Hilton Worldwide; and oversaw acquisitions and development for Hyatt Hotels Corp. and Starwood Hotels and Resorts Worldwide.
Troy Pentecost, who has served as FelCor’s interim CEO since September, will remain president and chief operating officer. He took over the role after the departure of former CEO Richard Smith.
Smith, who has served as FelCor’s top executive since 2006, remained with the company in a “non-executive role” though the end of 2016 to help transition his responsibilities to a new executive.
FelCor is a real estate investment trust that owns upscale and luxury hotels and resorts in the U.S. As of Friday’s closing price of $7.64, its stock is trading up 8.8 percent over the past 12 months.
Presented by the Dallas Business Journal – February 13, 2017