Third Party Transferring host after host disconnects... in Unity Networking or Photon

I'm trying to build a multiplayer game in Unity where players are able to drop in and out of a game...

Is this possible without a dedicated host? Could, after a host leaves or disconnects, a new host be chosen and the other players synchronize with it?

I read something about Photon having something like a "host transfer" feature. Would this solve the problem?

Any suggestions?