FELCOR SUITE HOTELS INC
4, 1997-09-10
REAL ESTATE INVESTMENT TRUSTS
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<PAGE>   1
FORM 4             U.S. SECURITIES AND EXCHANGE COMMISSION
                           WASHINGTON, D.C.  20549

                 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

OMB APPROVAL
OMB NUMBER 3235-0287
EXPIRES: SEPTEMBER 30, 1998
ESTIMATED AVERAGE BURDEN 
HOURS PER RESPONSE . . . . 0.5

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section
 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of
                      the Investment Company Act of 1940

/ / CHECK THIS BOX IF NO LONGER
    SUBJECT TO SECTION 16.  FORM 4 
    OR FORM 5 OBLIGATIONS MAY 
    CONTINUE.  SEE INSTRUCTION 1(b).

(Print or Type Responses)

1.  Name and Address of Reporting Person*

         Eslick                     Jack                          
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         (Last)                     (First)               (Middle)
                                    
    545 E. John Carpenter Frwy. Suite 1300
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                                   (Street)

    Irving                            TX                75062-0000
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         (City)                     (State)                 (Zip)
      
2.  Issuer Name and Ticker or Trading Symbol

    FelCor Suite Hotels, Inc. (FCH)
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3.  IRS or Social Security Number of Reporting Person (Voluntary)


    --------------------------------------------------------------------

4.  Statement for Month/Year

    August 1997
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5.  If Amendment, Date of Original (Month/Year)


    --------------------------------------------------------------------

6.  Relationship of Reporting Person to Issuer (Check all applicable)

                Director                           10% Owner
           ---                               ---

            X   Officer (give title below)         Other (specify below)
           ---                               ---

    Vice President, Director of Asset Management         
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7.  Individual or Joint/Group Filing (Check Applicable)

            X   Form filed by One Reporting Person
           ---

                Form filed by More than One Reporting Person
           ---

                             ---------------------
                             


- --------------------------------------------------------------------------------
TABLE I -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY  
           OWNED
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
1.  Title of Security            2.  Transaction Date         3.  Transaction Code              4.  Securities Acquired (A) or 
    (Instr. 3)                       (Month/Day/Year)             (Instr.8)                         Disposed of (D) (Instr. 3, 4 
                                                                                                    and 5)
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                                                                   Code      /     V              Amount / (A) or (D) / Price
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<S>                                     <C>                     <C>                               <C>

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- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

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</TABLE>


<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
                                        5.  Amount of Securities     6.  Ownership Form:  Direct     7.   Nature of Indirect     
                                            Beneficially Owned           (D) or Indirect (I)              Beneficial Ownership
                                            at End of Month              (Instr. 4)                       (Instr. 4)
                                            (Instr. 3 and 4)
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                                     <C>                          <C>                             <C>
Common Stock                            2000                         D
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------

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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
* If the form filed by more than one reporting person, see Instruction 4(b)(v)                                       SEC 1474 (7/96)
</TABLE>
                                                                               
<PAGE>   2
FORM 4 (CONTINUED)

TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
            (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

<TABLE>
<CAPTION>
1. Title of Derivative  2. Conversion or   3. Transaction    4. Transaction      5. Number of Derivative   6. Date Exercisable and 
   Security (Instr. 3)     Exercise Price     Date (Month/      Code (Instr. 8)     Securities Acquired       Expiration Date   
                           of Derivative      Day/Year)                             (A) or Disposed of        (Month/Day/Year)
                           Security                                                 (D) (Instr. 3, 4,
                                                                                    and 5)
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                                                                Code   /   V           (A)    /   (D)      Date           Expiration
                                                                                                           Exercisable    Date
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                      <C>                <C>                 <C>        <C>         <C>        <C>      <C>            <C>
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             $36.6300           08/13/1997          A                      1000                01/01/1998     06/24/2007
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             $36.6300           08/13/1997          A                      1000                01/01/1999     06/24/2007
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Stock Option             $36.6300           08/13/1997          A                      1000                01/01/2000     06/24/2007
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             $36.6300           08/13/1997          A                      1000                01/01/2001     06/24/2007
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option             $36.6300           08/13/1997          A                      1000                01/01/2002     06/24/2007
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>



<TABLE>
<CAPTION>
                                 7.  Title and Amount      8.  Price of     9.  Number of      10.   Ownership      11.  Nature of
                                     of Underlying             Derivative       Derivative           Form of             Indirect
                                     Securities (Instr.        Security         Securities           Derivative          Beneficial
                                     3 and 4)                  (Instr. 5)       Beneficially         Security:           Ownership
                                                                                Owned at             Direct (D)          (Instr. 4)
                                              Amount or                         End of               or Indirect
                                              Number of                         Month                (I) (Instr. 4)
                                    Title     Shares                            (Instr. 4)  
- ------------------------------------------------------------------------------------------------------------------------------------
<S>                              <C>           <C>         <C>              <C>                <C>                  <C>
Stock Option                     Common Stock  1000        $36.6300         1000               D
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                     Common Stock  1000        $36.6300         1000               D
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                     Common Stock  1000        $36.6300         1000               D
- ------------------------------------------------------------------------------------------------------------------------------------
Stock Option                     Common Stock  1000        $36.6300         1000               D
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Stock Option                     Common Stock  1000        $36.6300         1000               D
- ------------------------------------------------------------------------------------------------------------------------------------




</TABLE>
Explanation of Responses:



<TABLE>
<S>                                                                                       <C>

** Intentional misstatements or omissions of facts constitute                              /s/ JACK ESLICK                9/10/97
   Federal Criminal Violations.  See 18 U.S.C. 1001 and 15                                -----------------------------  ----------
   U.S.C. 78ff(a).                                                                        ** Jack Eslick                    Date
                                                                                                              

Note:  File three copies of this Form, one of which must
       be manually signed.  If space provided is insufficient,
       see Instruction 6 for procedure.                                                                                       
Potential persons who are to respond to the collection of information contained in this                                       Page 2
form are not required to respond unless the form displays the currently valid OMB Number.                            SEC 1474 (7/96)
</TABLE>

                  


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