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Strategic Hotels & Resorts, Inc. (BEE) RSS Feed

Followers
5
Posters
57
Posts (Today)
0
Posts (Total)
252
Created
12/05/08
Type
Free
Moderators
 
Strategic Hotels & Resorts, Inc. (SHR and, together with its subsidiaries, the Company) was incorporated in January 2004 to acquire and asset-manage upper upscale and luxury hotels that are subject to long-term management contracts. As of December 31, 2013, the Company’s portfolio included 18 full-service hotel interests located in urban and resort markets in the United States; Punta Mita, Nayarit, Mexico; Hamburg, Germany; and London, England. The Company operates in one reportable business segment, hotel ownership.
SHR operates as a self-administered and self-managed real estate investment trust (REIT), which means that it is managed by its board of directors and executive officers. A REIT is a legal entity that holds real estate interests and, through payments of dividends to stockholders, is permitted to reduce or avoid federal income taxes at the corporate level. For SHR to continue to qualify as a REIT, it cannot operate hotels; instead it employs internationally known hotel management companies to operate its hotels under management contracts. SHR conducts its operations through its direct and indirect subsidiaries, including its operating partnership, Strategic Hotel Funding, L.L.C. (SH Funding), which currently holds substantially all of the Company’s assets. SHR is the sole managing member of SH Funding and holds approximately 99% of its membership units as of December 31, 2013. SHR manages all business aspects of SH Funding, including the sale and purchase of hotels, the investment in these hotels and the financing of SH Funding and its assets.
As of December 31, 2013, SH Funding owned interests in or leased the following 18 hotels:
 
     
1. Fairmont Chicago
  
10. InterContinental Miami
2. Fairmont Scottsdale Princess (a)
  
11. JW Marriott Essex House Hotel (e)
3. Four Seasons Jackson Hole
  
12. Loews Santa Monica Beach Hotel
4. Four Seasons Punta Mita Resort (b)
  
13. Marriott Hamburg (f)
5. Four Seasons Silicon Valley
  
14. Marriott Lincolnshire Resort (g)
6. Four Seasons Washington, D.C.
  
15. Marriott London Grosvenor Square (g)
7. Hotel del Coronado (c)
  
16. Ritz-Carlton Half Moon Bay
8. Hyatt Regency La Jolla (d)
  
17. Ritz-Carlton Laguna Niguel
9. InterContinental Chicago
  
18. Westin St. Francis

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