Thursday, August 6, 2009

The latest on Strategic Hotels - a missed target

Since I know some of you follow locally-based Strategic Hotels & Resorts, here is the latest from Crain's:

Chicago-based Strategic Hotels, a real estate investment trust, said Wednesday that its comparable funds from operations were a loss of $2.5 million, or 3 cents a share, in the second quarter, compared with FFO of $36.4 million, or 48 cents a share, in the second quarter last year.

Analysts on average had estimated a 1-cent loss in FFO, according to Bloomberg L.P.

I'll let people who know more about the company comment. Regular readers know I have a soft spot for any company run by a admirer of Winston Churchill.