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Strategic Hotels & Resorts, Inc. Message Board

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  • mmports2010 mmports2010 Dec 15, 2009 10:52 AM Flag

    Bankruptcy or buyout in 2010?

    The Ritz Carlton was canceled for lack of funding. It would preasure them but they still had the upside of one of the best lots of land ton increase the hotel from 9 floor that it currently has to 40 like the BBVA towers next door or the Torre Mayor in front of them.

    They sold it for 6-7 times free cash flow considering it had no debt and sold as such.