Felcor Lodging Trust in 2011 had entered into a strategic process of selling many of their less desirable hotel properties and making strategic acquisitions of upper upscale properties. The big announcement for 2011 was the acquisition of the Knickerbocker Hotel, an iconic New York hotel, which would undergo a multimillion dollar renovation.

Squires & Company wanted to showcase Felcor's strategy by creating a two step cover. The actual cover would feature an image of the newly acquired Knickerbocker hotel, but the vellum fly sheet featured a graphic of an archway with a keystone being lowered into place. The keystone is the key piece that completes the arch and provides the strength and stability and this was perfect for communicating Felcor's Knickerbocker purchase as it was truly the last and most meaningful acquisition in their strategy.