EX-99
2
ex99-1.htm
EX. 99.1
Exhibit 99.1
COMPANY CONTACT:
AT FINANCIAL RELATIONS BOARD:
James Mead
Leslie Loyet
Tim Grace
Chief Financial Officer
General Information
Media Inquiries
(312) 658-5740
(312) 640-6672
(312) 640-6667
FOR IMMEDIATE RELEASE
TUESDAY, JANUARY 10, 2006
STRATEGIC HOTELS & RESORTS CLOSES ON JOINT VENTURE AGREEMENT
TO ACQUIRE 45 PERCENT INTEREST IN HOTEL DEL CORONADO
Chicago, IL - January 10, 2006 -
Strategic Hotel Capital, Inc. (NYSE: SLH)
, which operates as Strategic Hotels & Resorts,
today announced that the company closed on the previously announced agreement to acquire a 45 percent joint venture ownership interest in the Hotel del Coronado in San Diego, California. An affiliate of Kohlberg Kravis Roberts & Co. holds 41 percent and KSL Resorts holds the remaining 14 percent of the joint venture. The agreed upon market value of the new joint venture was $745 million, of which Strategic's total equity investment was approximately $70 million.
About the Company
Strategic Hotel Capital, Inc. also operates under the name Strategic Hotels & Resorts and is a real estate investment trust, which owns and asset manages high-end hotels and resorts. The company has ownership interests in 17 properties with an aggregate of 8,264 rooms. For further information, please visit the company's website at www.strategichotels.com.
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EX - 99 2 ex99 - 1 . htm EX . 99 . 1 Exhibit 99 . 1 COMPANY CONTACT : AT FINANCIAL RELATIONS BOARD : James Mead Leslie Loyet Tim Grace Chief Financial Officer General Information Media Inquiries ( 312 ) 658 - 5740 ( 312 ) 640 - 6672 ( 312 ) 640 - 6667 FOR IMMEDIATE RELEASE TUESDAY , JANUARY 10 , 2006 STRATEGIC HOTELS & RESORTS CLOSES ON JOINT VENTURE AGREEMENT TO ACQUIRE 45 PERCENT INTEREST IN HOTEL DEL CORONADO Chicago , IL - January 10 , 2006 - Strategic Hotel Capital , Inc . ( NYSE : SLH ) , which operates as Strategic Hotels & Resorts , today announced that the company closed on the previously announced agreement to acquire a 45 percent joint venture ownership interest in the Hotel del Coronado in San Diego , California . An affiliate of Kohlberg Kravis Roberts & Co . holds 41 percent and KSL Resorts holds the remaining 14 percent of the joint venture . The agreed upon market value of the new joint venture was $ 745 million , of which Strategic 's total equity investment was approximately $ 70 million . About the Company Strategic Hotel Capital , Inc . also operates under the name Strategic Hotels & Resorts and is a real estate investment trust , which owns and asset manages high - end hotels and resorts . The company has ownership interests in 17 properties with an aggregate of 8,264 rooms . For further information , please visit the company 's website at www.strategichotels.com . - 30 -