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Sir David Michels joins board of US REIT

22 August 2007 by
Sir David Michels joins board of US REIT

Sir David Michels has joined the board of US hotel owner and real estate investment trust (REIT) Strategic Hotels and Resorts in a specially created consultancy position of senior European strategist.

Michels currently sits on the board of directors of the British Land Company, EasyJet and Marks & Spencer but under the terms of the appointment will have to resign from all committee positions he holds, including chairman of the Compensation Committee.

Laurence Geller, chief executive officer of Strategic Hotels and Resorts, said: "With his concentrated efforts on both our existing properties and the burgeoning European marketplace, our corporate senior management team can focus its attention more completely on the broad range of opportunities in our North American portfolio.

"Meanwhile we will have the confidence that, under Sir David's aegis, we are improving and strategically considering the expansion of our European business."

Michels, the ex-Hilton Group boss and Stakis chief executive, saw Vector Hospitality, the hospitality industry's first REIT, fail to get of the ground in June due to a lack of support by investors.

At the time worries were raised over potential conflicts of interest for fellow Vector director Richard Balfour Lynn, who is also chief executive of Marylebone Warwick Balfour, which owns Hotel du Vin and Malmaison, and founder of the Alternative Hotel Group, which comprises De Vere and Village, which was selling assets to Vector.

Following the failure of Vector Malmaison and Hotel du Vin are still in seach of a buyer.

Malmaison and Hotel du Vin bid made >>

No rush for REITs after Vector failure >>

Vector pulls out of £2b floatation >>

Details of UK's first hotel REIT unveiled >>

Malmaison and Hotel du Vin bid made >>

Michels seeks funds for European investment? >>

Read more on REITs here >>

By Christopher Walton

E-mail your comments to Christopher Walton](mailto:christopher.walton@rbi.co.uk?subject=Sir David Michels join board of US REIT) here.

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