With the recent exit of longtime CEO Laurence Geller at the beginning of November, financial analysts are speculating that Strategic Hotels & Resorts could be a buyout target.
Bloomberg Businessweek reported that some financial analysts view the sudden CEO replacement as a sign that Strategic Hotels & Resorts, Chicago, may soon be sold.
Raymond James Financial Inc. told Bloomberg Businessweek that Host Hotels & Resorts Inc. as well as private equity could potentially buy Strategic.
During a conference call on November 2 announcing Geller’s departure, Strategic’s chairman and new CEO Raymond “Rip” Gellein Jr. said he would not comment directly on whether Strategic is considering a sale but that he does not expect his tenure as CEO to be short term.