Friday, June 1, 2007

Strategic Hotels striving to stay independent

One of my earliest posts was complimentary toward Laurence Geller, whose Strategic Hotels & Resorts had been coming under fire from some investors (and unfairly so, in my view) about valuation. It looks like SHR has at least bought some time to grow the stock price by selling $49 stakes in the Intercontinental Chicago and the Hyatt Regency La Jolla to the investment arm of the government of Singapore.

Other than our mutual affinity for Winston Churchill, I have no reason to cheer on SHR other than because I like seeing Chicago companies, in this case, do well. And this company has a very nice portfolio of luxury properties that should succeed. I hope they achieve their goal of remaining independent.


Ula said...

Good for people to know.