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Strategic Hotel Capital Inc

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BUSINESS
August 22, 1997 | MELINDA FULMER
A New Mexico hotel investment group recently agreed to acquire the Ritz-Carlton Laguna Niguel luxury resort for about $225 million, according to published reports. Strategic Hotel Capital Inc. will buy the 393-room oceanfront resort from Prudential Insurance Co. of America, according to a report in the Wall Street Journal, which quoted unnamed sources.
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BUSINESS
April 15, 2006 | Roger Vincent
The Ritz-Carlton Laguna Niguel is on the market and may fetch a record price for an Orange County hotel, industry observers said. Its owner, Chicago-based investor Strategic Hotel Capital, is selling off its assets, including the Dana Point property and the Park Hyatt in San Francisco, said hotel consultant Alan Reay of Atlas Hospitality. The sellers hope to get close to $400 million for the 393-room hotel, according to Commercial Real Estate Direct, a real estate news service. -- Roger Vincent
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BUSINESS
May 13, 1999 | E. SCOTT RECKARD, E. Scott Reckard covers tourism for The Times. He can be reached at (714) 966-7407 and at scott.reckard@latimes.com
Laurence Geller, whose private Strategic Hotel Capital bought the Ritz-Carlton in Dana Point for $225 million in 1997, keeps moving fast. His group now owns 28 hotels, including New York's Essex House, which it purchased recently for more than $250 million. Geller, 50, a transplanted Londoner based in Chicago, foresees more acquisitions in California. "Since the last recession, things have beefed up into a wonderfully diversified economy," he said, "and we want to be part of that."
BUSINESS
May 13, 1999 | E. SCOTT RECKARD, E. Scott Reckard covers tourism for The Times. He can be reached at (714) 966-7407 and at scott.reckard@latimes.com
Laurence Geller, whose private Strategic Hotel Capital bought the Ritz-Carlton in Dana Point for $225 million in 1997, keeps moving fast. His group now owns 28 hotels, including New York's Essex House, which it purchased recently for more than $250 million. Geller, 50, a transplanted Londoner based in Chicago, foresees more acquisitions in California. "Since the last recession, things have beefed up into a wonderfully diversified economy," he said, "and we want to be part of that."
BUSINESS
April 15, 2006 | Roger Vincent
The Ritz-Carlton Laguna Niguel is on the market and may fetch a record price for an Orange County hotel, industry observers said. Its owner, Chicago-based investor Strategic Hotel Capital, is selling off its assets, including the Dana Point property and the Park Hyatt in San Francisco, said hotel consultant Alan Reay of Atlas Hospitality. The sellers hope to get close to $400 million for the 393-room hotel, according to Commercial Real Estate Direct, a real estate news service. -- Roger Vincent
CALIFORNIA | LOCAL
August 10, 1999
The Burbank Hilton Airport & Convention Center, a 486-room hotel in Burbank, has undergone a $5 million refurbishment program, the company said. The nine-month renovation included refurbishing the East and West towers, the addition of a restaurant and a rental car customer service desk, and the installation of new communications systems and in-room technology features including Internet access. The hotel is owned by Strategic Hotel Capital Inc. and managed by Hilton Hotels Corp.
BUSINESS
October 24, 1997 | Bloomberg News
Prudential Real Estate Investors and a group of institutional investors formed a $685-million fund to purchase shares in real estate investment trusts and operating companies. The fund, with $350 million from eight institutional investors and $335 million from Prudential, will invest in REITs that buy real estate from Prudential.
BUSINESS
October 15, 1997 | Bloomberg News
Prudential Insurance Co. of America sold five luxury hotel properties, including the Ritz-Carlton Laguna Niguel, to Strategic Hotel Capital Inc. for $549 million, the closely held real estate operating company said. Strategic Hotel said Prudential also agreed to pay it up to $225 million for an equity stake in the company. Chicago-based Strategic Hotel said Prudential's stake may include an investment for its institutional clients in addition to its general account.
BUSINESS
August 15, 2005 | From Reuters
Billions of dollars have already been spent on hotel deals this year, and the pace probably will accelerate into 2006, further boosting lodging stocks, analysts and industry experts say. Historically low interest rates and an abundance of capital have made hotels attractive to investors chasing higher yields. Another hotel deal catalyst has been a surge in construction costs -- up more than 30% in the last two years -- which has driven the inclination to buy rather than build.
BUSINESS
August 22, 1997 | MELINDA FULMER
A New Mexico hotel investment group recently agreed to acquire the Ritz-Carlton Laguna Niguel luxury resort for about $225 million, according to published reports. Strategic Hotel Capital Inc. will buy the 393-room oceanfront resort from Prudential Insurance Co. of America, according to a report in the Wall Street Journal, which quoted unnamed sources.
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