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Strategic Hotel & Resorts, Inc.
Ticker Symbol: BEE* CUSIP: 86272T106 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/11/2015
Company's Online Profile
BUSINESS: 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, Mexico and Europe. The Company currently has ownership interests in 18 properties with an aggregate of 8,271 rooms and 851,600 square feet of meeting space.
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Notes: December 11, 2015 – Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced the completion of the acquisition of the Company by affiliates of Blackstone Real Estate Partners VIII L.P. The total transaction value is approximately $6 billion. Pursuant to the transaction, holders of shares of common stock of Strategic Hotels & Resorts, Inc. will be entitled to receive $14.25 in cash, without interest, for each share of the common stock they own, and holders of membership units of the Company’s subsidiary, Strategic Hotel Funding, L.L.C. (other than the Company), will be entitled to receive $14.25 in cash, without interest, for each unit they own. As a result of the completion of the acquisition, the Company’s common stock will cease trading on the New York Stock Exchange. ____________ Excerpt from the news release dated 2/26/08 -- The Board of Directors previously declared on December 11, 2008 a quarterly dividend to shareholders of record on December 19, 2008 of $0.53125 per share of 8.50 percent Series A Cumulative Redeemable Preferred Stock, $0.51563 per share of 8.25 percent Series B Cumulative Redeemable Preferred Stock, and $0.51563 per share of 8.25 percent Series C Cumulative Redeemable Preferred Stock. The preferred stock dividends were paid on December 31, 2008. The Board of Directors elected to suspend the quarterly dividend to holders of Series A, B and C Cumulative Redeemable Preferred Stock to preserve liquidity due to the declining economic environment for hotel operations and no projected taxable distribution requirement. Elimination of preferred dividends equates to approximately $7.7 million in cash flow savings per quarter. The company had previously announced the Board of Directors elected to suspend dividends on common stock beginning in the fourth quarter of 2008, which is estimated to save approximately $90 million through the end of 2009.
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IPO - 6/24/2004 - 17.60 Million Shares @ $14.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: SLH Changed: 3/15/2006
Previous Name: Strategic Hotel Capital, Inc. Changed: 3/15/2006
Large Cap Stock -
Market Value $1.7 Billion
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 200 West Madison Street, Suite 1700, Chicago, Il 60606 |
| Main Phone Number |
312-658-5000 |
| Fax Number |
312-658-5799 |
| Investor Relations
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312-658-5000
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Toll Free Phone Number |
Unknown |
| CEO - Raymond L. Gellein, Jr. |
CFO - Diane M. Morefield |
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