IPO nets $246 million for Strategic Hotel Capital

06/28/2004 | Commercial Property Executive

Strategic Hotel Capital, which owns 14 upscale and luxury resorts and hotels in Europe and North America, raised $246 million with its initial public offering last week. Analysts and executives say the time is right for hotel companies to turn to public markets for funding: "Given where the industry is in the cycle, investors believe they have the opportunity to invest and ride the wave up," said Arthur Adler, CEO of Jones Lang LaSalle Hotels.

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