Profile: Strategic Hotels & Resorts, Inc. (BEE.N)

Strategic Hotels & Resorts, Inc. (SHR), incorporated in January 2004, operates as a self-administered and self-managed real estate investment trust (REIT). SHR owns and asset manages upper upscale and luxury hotels that are subject to long-term management contracts. The Company conducts its operations through its direct and indirect subsidiaries, including Strategic Hotel Funding, L.L.C (SH Funding). As of December 31, 2008, SHR’s portfolio included 19 full-service hotel interests located in urban and resort markets in the United States; Paris, France; Mexico City and Punta Mita, Nayarit, Mexico; Hamburg, Germany; London, England, and Prague, Czech Republic. SHR operates in one reportable business segment: hotel ownership. The Company’s existing hotels are operated under brands of Fairmont, Four Seasons, Hyatt, InterContinental, Loews, Marriott, Ritz-Carlton and Westin. The Hotel del Coronado is operated by a management company, KSL Resorts. On July 2, 2008, the Company sold Hyatt Regency Phoenix. In December 2009, the Company announced that it has closed on its disposition of the Renaissance Paris Hotel Le Parc Trocadero.

As of February 27, 2009, the Company wholly owned or leased 16 hotels, and owned a 51% interest in affiliates that own two hotels where it asset manages such hotels and owns a 45% interest in and acts as asset manager for a joint venture that owns one hotel. As of February 27, 2009, the Company owned land held for development, including the La Solana project adjacent to its Four Seasons Punta Mita Resort, which includes a 20.5-acre site for the development of hotel suites and a 27-acre site for the development of for-sale villas, a separate 60-acre oceanfront land parcel near the Four Seasons Punta Mita Resort and a 10-acre parcel adjacent to the Fairmont Scottsdale Princess. The Company owns a 31% interest in and acts as asset manager for a joint venture with two unaffiliated parties that is developing the Four Seasons Residence Club Punta Mita, a luxury vacation home product that is being sold in fractional ownership interests on property adjacent to the Company’s Four Seasons Punta Mita Resort hotel in Mexico.