Replies to post #237 on Strategic Hotels & Resorts, Inc. (BEE)

[Enterprising Investor]

Strategic Hotels & Resorts, Inc. Announces Public Offering Of Common Stock (5/27/14)

CHICAGO, May 27, 2014 /PRNewswire/ --Strategic Hotels & Resorts, Inc. (the "Company") (NYSE: BEE) today announced that it is commencing an underwritten public offering of 34,000,000 shares of its common stock (the "Offering"). The Company expects to grant the underwriters an option to purchase up to 5,100,000 additional shares of common stock to cover over-allotments, if any. J.P. Morgan, Deutsche Bank Securities, BofA Merrill Lynch, and Wells Fargo Securities will act as joint book-running managers for the Offering.

The Company intends to use the net proceeds from the Offering to fund the acquisition of the 63.6% ownership interest in the Hotel del Coronado that it does not own from its joint venture partner, to redeem all of the issued and outstanding shares of its 8.25% Series C Cumulative Redeemable Preferred Stock, and for general corporate purposes, including, without limitation, reducing its borrowings under its bank credit facility, repaying other debt and funding capital expenditures and working capital.

The offering of the shares will be made under the Company's effective shelf registration statement filed with the Securities Exchange Commission (the "SEC"). The Company has filed a prospectus supplement with the SEC for the common stock offering to which this communication relates. When available, the prospectus supplement and accompanying base prospectus, meeting the requirements of Section 10 of the Securities Act of 1933, may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204; or from Deutsche Bank Securities Inc., Attention: Prospectus Group, 60 Wall Street, New York, NY 10005, or by calling 800-503-4611 or by emailing a request to [e-mail]; or from BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department or email [e-mail]; or from Wells Fargo Securities, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York, 10152, at [phone] or email a request to [e-mail]; or by visiting the EDGAR database on the SEC's web site at www.sec.gov.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of the Company's common stock, nor shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The offering may be made only by means of a prospectus and a related prospectus supplement, which have been filed with the SEC.

About the Company

Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and provides value enhancing asset management of high-end hotels and resorts in the United States and Europe. The company currently has ownership interests in 16 properties with an aggregate of 7,862 rooms and 835,000 square feet of multi-purpose meeting and banqueting space.

http://www.prnewswire.com/news-releases/strategic-hotels--resorts-inc-announces-public-offering-of-common-stock-260819281.html

[Enterprising Investor]

Strategic Hotels & Resorts, Inc. Closes Acquisition Of Remaining Interest In The Hotel del Coronado (6/12/14)

CHICAGO, June 12, 2014 /PRNewswire/ -- Strategic Hotels & Resorts, Inc. (NYSE: BEE), today announced that the Company closed on the acquisition of the remaining 63.6 percent ownership interest in the Hotel del Coronado for $210.0 million. The transaction valued the asset at $787.0 million and includes the assumption of the existing $475.0 million mortgage financing. The closing of the transaction is reflected in the Company's full-year 2014 guidance.

About the Company

Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and provides value enhancing asset management of high-end hotels and resorts in the United States and Europe. The Company currently has ownership interests in 16 properties with an aggregate of 7,862 rooms and 835,000 square feet of multi-purpose meeting and banqueting space. For a list of current properties and for further information, please visit the Company's website at www.strategichotels.com.

http://www.prnewswire.com/news-releases/strategic-hotels--resorts-inc-closes-acquisition-of-remaining-interest-in-the-hotel-del-coronado-262876821.html