FelCor Hires First CIO, Takes Lend Lease's Top Hotel Honcho

IRVING, TX-FelCor Lodging Trust Inc. has roped Lend Lease Real Estate Investment’s chief hotel honcho as its first CIO. The move is part of an ongoing push to alter the portfolio of the Irving-based REIT.

Michael A. DeNicola, also named a FelCor executive vice president, was principal and head of the Atlanta-based Lend Lease’s Lodging and Leisure Group. The group is headquartered in Chicago.

DeNicola tells GlobeSt.com that his first priority is to develop an investment strategy. “It’s important to look at investing strategically and opportunistically,” he says. The strategy should be in place in first quarter 2002–in time to “take advantage” of the up-and-coming market opportunities as so often has been stated by FelCor officials in recent months.