Host Hotels CEO Walter to Step Down

Host Hotels & Resorts, Inc. (NYSE: HST) announced Dec. 14 that W. Edward Walter will step down as president and CEO of the company at the end of the month.

Walter will be succeeded by James Risoleo, Host’s executive vice president and managing director of investments for the West Coast and Europe. Walter will remain with Host through the end of January to ensure a smooth transition, the company said.

Walter served as NAREIT chair in 2013.

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Blackstone to Purchase Strategic Hotels for $6 Billion

Strategic Hotels & Resorts, Inc. (NYSE: BEE) said Sept. 8 that private equity firm Blackstone Group LP has agreed to purchase the REIT for approximately $ 6 billion.

Blackstone agreed to pay $ 14.25 in cash for each Strategic share. That represents a premium of approximately 13 percent above the intra-day trading price on July 23, when a news report pointed to a potential transaction. The acquisition includes Strategic subsidiary Strategic Hotels Funding LLC as well as all of the firm’s outstanding debt.

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SoTHERLY Hotels CEO says REIT’s Group Travel Activity Boosting ADR

Andrew Sims, chairman and CEO of SoTHERLY Hotels Inc. (NASDAQ: SOHO), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

SoTHERLY owns a portfolio of full-service hotels primarily located in the high-growth markets of the Southern United States.

Group travel has been a catalyst for growth at SoTHERLY so far this year. Sims discussed factors behind those gains.

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Luxury, Group Business Boosting Strategic Hotels

Rip Gellein, chairman and CEO of Strategic Hotels & Resorts, Inc. (NYSE: BEE), joined REIT.com for a CEO Spotlight video interview during REITWeek 2015: NAREIT’s Investor Forum, held in New York.

In May, the company closed on the acquisition of the Four Seasons Austin hotel for $ 197 million. The hotel is located in the midst of the city’s central business district. Gellein commented on the qualities that attract Strategic Hotels to the Austin market.

Rip Gellein

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Strategic Hotels CEO: Low Lodging Supply to Boost RevPAR Growth

Raymond “Rip” Gellein, chairman and CEO of Strategic Hotels and Resorts, Inc. (NYSE: BEE), joined REIT.com for a CEO Spotlight video interview at REITWorld 2014: NAREIT’s Annual Convention for All Things REIT at the Atlanta Marriott Marquis.

Strategic Hotels is an owner and asset manager of upper-upscale and luxury hotels and resorts. Gellein assessed the outlook for fundamentals in the sector heading into 2015.

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