Sam Zell’s emergence as an investor of interest in Starwood Hotels & Resorts (HOT-$20.80) should not be taken as a portent that the commercial real estate market is poised for a turnaround. In addition to buying his Starwood stake before the recent bottom in the price of the stock, Zell had a less than stellar run as owner of the now bankrupt Tribune Company. Albeit to his credit, he only had to invest $315 million of his own equity in the $8 billion failure.
Although Zell is not infallible, he recognizes value. Starwood operates well-known brands such as Sheraton, Westin, Le Méridien, and St. Regis in some of the biggest cities, including Mexico City, New York, Paris, Shanghai, and Tokyo… Read More….
Editor David J Phillips does not hold a financial interest in any stocks mentioned in this article. The 10Q Detective has a Full Disclosure Policy.
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