The company’s family-oriented, entrepreneurial and fun corporate culture is the direct result of co-founders Hervey Feldman (the "Fel") and Tom Corcoran (the "Cor"). FelCor built on ingenuity, hard work and the ideals of working together as a family and having fun.
In 1991, Tom and Hervey purchased their first hotel – the Holiday Inn® at Dallas/Fort Worth International Airport. One year later, they acquired the Embassy Suites hotel in Tulsa, OK, and bought five Park Suites® hotels that were in the process of being converted to the Embassy Suites brand in 1993.
In 1994, FelCor (NYSE: FCH) went public as a REIT, but the company’s deeply ingrained ethics, ideals and spirited corporate culture continue to be protected and nurtured because they are considered key elements in the company’s ongoing success. Indeed, FelCor was named a "Top 100 Places to Work" in Dallas-Ft. Worth in 2011 by the Dallas Morning News. The results are determined solely by employee surveys.
The essence of FelCor’s unique corporate culture can be seen in one of the company’s more unique corporate events – the Chairman’s Luncheon. Tom started this tradition of cooking and fun when he and Hervey first founded FelCor, and the tradition continues today.
Every other month, a handful of employees are selected and given the task of cooking a multi-course lunch for the entire company. The meal is made from scratch, based on a different theme, given to them the day of the lunch. Regardless of each employee’s level of cooking expertise, the team works together to shop for ingredients and spends the morning working hard over a hot stove.
Chairman of the Board Tom Corcoran believes the Chairman’s Luncheon is a great team-building exercise. It also exemplifies FelCor’s unique and invigorating company culture.
Typical of FelCor and our family-styled culture, the company and its employees take an active role in community service and giving, whether it is with the corporate charity, Autism Speaks, or with local social service organizations. The company also participates in a matching gifts program. FelCor’s culture emphasizes the power and value of individual contributions and leadership. In 2007, we implemented a matching charitable gift program for individual contributions. FelCor stands shoulder-to-shoulder with its employees in their efforts to improve our community. That same energy infuses everything we do at FelCor - managing our stockholders' investment, buying, selling and financing hotels and planning for the future.