Hotel News Resource - Strategic Hotels Hotel Industry News

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.

Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced that the partnership that owns the Hotel del Coronado has received an extension on the loan maturity date associated with the hotel.

Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that the company has closed on its disposition of the InterContinental Prague to an investment group led by an affiliate of Westmont Hospitality for a total consideration of approximately euro 108.0 million.