EX-99
2
ex99-1.htm
EX. 99.1: PRESS RELEASE
Exhibit 99.1
COMPANY CONTACT:
AT FINANCIAL RELATIONS BOARD:
James Mead
Leslie Loyet
Tim Grace
Chief Financial Officer
Analyst Inquiries
Media Inquiries
(312) 658-5740
(312) 640-6672
(312) 640-6667
FOR IMMEDIATE RELEASE
TUESDAY, AUGUST 8, 2006
STRATEGIC HOTELS & RESORTS CLOSES ON ACQUISITION OF PARTNER'S INTEREST IN INTERCONTINENTAL HOTEL IN PRAGUE
Chicago, IL - August 8, 2006 - Strategic Hotels & Resorts, Inc. (NYSE: BEE)
today announced that the company closed on its acquisition of a 65.0% interest in the entity that owns the InterContinental Hotel in Prague, Czech Republic, for $68.8 million, from affiliates of GIC Real Estate, Inc. The purchase brings the company's interest in the entity that owns the property to 100%. Including the assumption of $56.5 million in debt, the company's total investment to acquire the 65% interest is $125.3 million.
About the Company
Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and asset manages high-end hotels and resorts. The company has ownership interests in 19 properties with an aggregate of 9,607 rooms. For further information, please visit the company's website at http://www.strategichotels.com.
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EX - 99 2 ex99 - 1 . htm EX . 99 . 1 : PRESS RELEASE Exhibit 99 . 1 COMPANY CONTACT : AT FINANCIAL RELATIONS BOARD : James Mead Leslie Loyet Tim Grace Chief Financial Officer Analyst Inquiries Media Inquiries ( 312 ) 658 - 5740 ( 312 ) 640 - 6672 ( 312 ) 640 - 6667 FOR IMMEDIATE RELEASE TUESDAY , AUGUST 8 , 2006 STRATEGIC HOTELS & RESORTS CLOSES ON ACQUISITION OF PARTNER 'S INTEREST IN INTERCONTINENTAL HOTEL IN PRAGUE Chicago , IL - August 8 , 2006 - Strategic Hotels & Resorts , Inc . ( NYSE : BEE ) today announced that the company closed on its acquisition of a 65 . 0 % interest in the entity that owns the InterContinental Hotel in Prague , Czech Republic , for $ 68.8 million , from affiliates of GIC Real Estate , Inc . The purchase brings the company 's interest in the entity that owns the property to 100 % . Including the assumption of $ 56.5 million in debt , the company 's total investment to acquire the 65 % interest is $ 125.3 million . About the Company Strategic Hotels & Resorts , Inc . is a real estate investment trust ( REIT ) which owns and asset manages high - end hotels and resorts . The company has ownership interests in 19 properties with an aggregate of 9,607 rooms . For further information , please visit the company 's website at http://www.strategichotels.com . # # #
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