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US shareholder activists target hotels

They seek opportunities to maximise value at companies seen as laggards in a sector that is outperforming others, reports NADJA BRANDT

[LOS ANGELES] HOTEL owners and operators are catching the attention of US shareholder activists as surging property values spur investors to press for higher returns at companies seen as laggards. Strategic Hotels & Resorts, owner of Manhattan's JW Marriott Essex House, is under pressure