Ross Boosts Stake in Hotel Investors: New...
From Times Staff and Wire Reports
Ross Boosts Stake in Hotel Investors: New York investor Leonard M. Ross said he raised his stake in Los Angeles-based Hotel Investors Trust and Hotel Investors Corp. to 15.5%. Ross also said he will vote his shares at the hotel firm’s Dec. 20 annual meeting in favor of the proposed sale of its 27 hotels to Park Plaza, an affiliate of Japan’s EIE International Corp. Ross made an earlier threat to solicit proxies to acquire representation on Hotel Investors board, but the plan has been put on hold because no date has been scheduled for the elections, according to an SEC filing.
