Strategic Names Morefield as Chief Financial Officer

Chicago-based Strategic Hotels & Resorts, Inc. has named Diane Morefield executive vice president and chief financial officer.

March 10, 2010
By Allison Landa, News Editor

Courtesy Flickr Creative Commons user Josiah Mackenzie

Chicago-based Strategic Hotels & Resorts, Inc. has named Diane Morefield executive vice president and chief financial officer.

Morefield succeeds James Mead and will work out of the company’s corporate headquarters. She begins her new position on April 12.

“Diane has a strong combination of deep real estate industry knowledge and sophisticated financial and capital markets expertise,” Strategic president and chief executive officer Laurence Geller said in a statement. “Additionally, Diane has worked with many of our same key stakeholders on Wall Street both on the buy- and sell-side, as well as lenders and bankers, and we look forward to her proven discipline in managing our company’s financial assets.”

Morefield has more than 25 years of commercial real estate experience. She previously served as chief financial officer of real estate investment firm Equity International and earlier as chief financial officer of real estate development company Joseph Freed & Associates, LLC. Morefield received a Masters in Business Administration from the University of Chicago and a Bachelors of Science in Accountancy from the University of Illinois.

Last month, Strategic reported fourth-quarter net loss attributable to shareholders fell to $72.19 million from $285.08 million in 2008. Loss per share from continuing operations attributable to shareholders also dropped, going from $3.40 in 2008 to $1.23 a year later.

Strategic has a portfolio of high-end hotels and resorts in the U.S., Mexico and Europe, with ownership interests in 17 properties with an aggregate of 8,002 rooms.