Hotel Job Resource - Strategic Hotels Hotel News

North American Same Store RevPAR Increases 9.4 Percent and EBITDA Margins Expand 170 Basis Points in Quarter; Continued Balance Sheet Improvement; Company Declares Second Quarter Preferred Dividend Payment

Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced today that it plans to make a public offering of 16 million shares of its common stock. The Company expects to grant the underwriters an option to purchase up to 2.4 million additional shares of common stock to cover over-allotments, if any.

United States same store revenue per available room (RevPAR) increased 11.7 percent, driven by a 9.7 percent increase in average daily rate (ADR) and a 1.4 percentage point increase in occupancy compared to the third quarter of 2010. Total revenue per available room (Total RevPAR) increased 8.8 percent between periods.

Moreau has served in various leadership positions with Strategic Hotels and its predecessor company for the past 14 years.

U.S. Same Store RevPAR increases 12.6 percent with EBITDA margin expansion of 390 basis points

Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that it has closed a $130.0 million limited recourse loan secured by the Four Seasons Washington, D.C. hotel. The property was previously collateral for the Company's revolving credit facility.

This new financing replaces the $118.3 million in financing previously encumbering the property, with the differential to the previous loan amount funded on the Company's revolving credit facility.

U.S. Same Store Portfolio RevPAR Increases 16.6 Percent and EBITDA Margins Expand 430 Basis Points in Quarter

Company Enters Agreement to Sell Paris Marriott Champs Elysees

Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced today that it has signed a letter agreement to acquire the Four Seasons Jackson Hole and Four Seasons Silicon Valley from The Woodbridge Company Limited (Woodbridge) in exchange for an aggregate of 15.2 million shares of common stock at an agreed upon issuance price of $6.25 per share, or an implied valuation of $95.0 million.