Strategic Hotels & Resorts Inc., the owner of luxury lodgings from New York’s Essex House to the Ritz-Carlton Half Moon Bay in California, is turning into a takeover candidate after its founder’s abrupt exit.
Strategic Hotels & Resorts Inc. , owner of the Four Seasons in Washington, plans to double earnings within three years, helped by cost cuts and a travel recovery, the company’s chief executive officer said today.
Laurence Geller, who runs luxury hotels around the globe, figures it will cost him half a million dollars when his adopted hometown, Chicago, hosts world leaders this month at a North Atlantic Treaty Organization summit.
Strategic Hotels & Resorts Inc. will be able to rework or replace five loans approaching maturity as financial institutions regain their eagerness to lend to lodging owners, Chief Executive Officer Laurence Geller said.
Strategic Hotels & Resorts Inc., a real estate investment trust with stakes in luxury hotels, jumped the most in more than two years, after Chief Executive Officer Laurence Geller announced his resignation.
Strategic Hotels & Resorts Inc., the owner of luxury lodgings including the Ritz-Carlton Half Moon Bay in California and Manhattan’s JW Marriott Essex House New York, jumped the most in seven months following a report that the company may put itself up for sale.