Hotel Magnate Geller Expanding Rapidly

Laurence Geller, whose private Strategic Hotel Capital bought the Ritz-Carlton in Dana Point for $225 million in 1997, keeps moving fast. His group now owns 28 hotels, including New York’s Essex House, which it purchased recently for more than $250 million.

Geller, 50, a transplanted Londoner based in Chicago, foresees more acquisitions in California. “Since the last recession, things have beefed up into a wonderfully diversified economy,” he said, “and we want to be part of that.”

Geller said he could sell the Ritz-Carlton at a profit but instead is concentrating on adding amenities.

“We’d like to be able to build the most luxurious spa in Southern California,” he said. Another priority is more meeting space--Ritz-Carlton business meetings often spill over into huge tents.

Geller, who also owns hotels in Northern California, recently acquired Loew’s Beach Hotel in Santa Monica, which he says will get a much-needed fixing up. “Any of our [operators] will tell you the first question we ask is what can we do to expand the hotel, to improve it,” he said.