Strategic Hotels & Resorts, Inc. Closes Acquisition Of Remaining Interest In The Hotel del Coronado

 Strategic Hotels & Resorts, Inc. Closes Acquisition Of Remaining Interest In
                            The Hotel del Coronado

PR Newswire

CHICAGO, June 12, 2014

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.

This press release contains forward-looking statements about Strategic Hotels
& Resorts, Inc. (the "Company"). Except for historical information, the
matters discussed in this press release are forward-looking statements subject
to certain risks and uncertainties. These forward-looking statements include
statements regarding the Company's future financial results, stabilization in
the lodging space, positive trends in the lodging industry and the Company's
continued focus on improving profitability. Actual results could differ
materially from the Company's projections. Factors that may contribute to
these differences include, but are not limited to the following: the effects
of economic conditions and disruptions in financial markets upon business and
leisure travel and the hotel markets in which the Company invests; the
Company's liquidity and refinancing demands; the Company's ability to obtain,
refinance or extend maturing debt; the Company's ability to maintain
compliance with covenants contained in its debt facilities; stagnation or
deterioration in economic and market conditions, particularly impacting
business and leisure travel spending in the markets where the Company's hotels
operate and in which the Company invests, including luxury and upper upscale
product; general volatility of the capital markets and the market price of the
Company's shares of common stock; availability of capital; the Company's
ability to dispose of properties in a manner consistent with its investment
strategy and liquidity needs; hostilities and security concerns, including
future terrorist attacks, or the apprehension of hostilities, in each case
that affect travel within or to the United States or Germany or other
countries where the Company invests; difficulties in identifying properties to
acquire and completing acquisitions; the Company's failure to maintain
effective internal control over financial reporting and disclosure controls
and procedures; risks related to natural disasters; increases in interest
rates and operating costs, including insurance premiums and real property
taxes; delays and cost-overruns in construction and development; marketing
challenges associated with entering new lines of business or pursuing new
business strategies; the Company's failure to maintain its status as a REIT;
changes in the competitive environment in the Company's industry and the
markets where the Company invests; changes in real estate and zoning laws or
regulations; legislative or regulatory changes, including changes to laws
governing the taxation of REITs; changes in generally accepted accounting
principles, policies and guidelines; and litigation, judgments or settlements.

Additional risks are discussed in the Company's filings with the Securities
and Exchange Commission, including those appearing under the heading "Item 1A.
Risk Factors" in the Company's most recent Form 10-K and subsequent Form
10-Qs. Although the Company believes the expectations reflected in such
forward-looking statements are based on reasonable assumptions, it can give no
assurance that its expectations will be attained. The forward-looking
statements are made as of the date of this press release, and the Company
undertakes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise,
except as required by law.

SOURCE Strategic Hotels & Resorts, Inc.

Website: http://www.strategichotels.com
Contact: Diane Morefield, EVP, Chief Financial Officer, Strategic Hotels &
Resorts, Inc., (312) 658-5740, or Jonathan Stanner, VP, Capital Markets &
Treasurer, Strategic Hotels & Resorts, Inc., (312) 658-5746
 
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