Strategic Hotel Capital interested in Le Méridien properties

Chicago-based investment firm Strategic Hotel Capital is interested in buying some of the Le Méridien hotel properties that Japanese bank Nomura is in the final stages of buying from Compass. "We would like to work with whoever acquires the properties," said Strategic's chief executive, Laurence Geller. His company was originally interested in buying the chain itself. "Should the deal fall through we would look at it again," Geller said. Strategic is understood to have $1b (£700m) to spend, and would be most interested in the city-centre hotels in major cities across Europe and North America. Should Strategic succeed, the government of Singapore is thought to be a potential partner in the deal, having worked with the company in the past. Nomura is understood to be the preferred bidder for the 125-strontg Le Méridien chain, having tabled a bid for a £1.85b at the end of April. Meanwhile, Guy Hands, the financier who heads Nomura's Principal Finance Group, is reported to be in talks to leave the bank to set up his own fund. Reports suggest that he would continue to run the portfolio of hospitality businesses acquired by the division. So far, they include the Cumberland Hotel in London, the Principal Hotels group and the Unique pub chain. But if the split goes ahead, Hands is unlikely to be pulling off any major new deals in the short term. He said: "We will probably have a period of fundraising, maybe 18 months, and we will concentrate on existing deals." by Sara Guild and Forbes Mutch • For more on the Le Méridien deal, see *Caterer & Hotelkeeper* magazine, 17 May