Strategic Hotels & Resorts, Inc. Responds to Public Letter from Orange Capital

The Board of Directors of Strategic Hotels & Resorts, Inc. (NYSE: BEE) provides the following response to a press release issued today by Orange Capital.

The Board of Directors of Strategic Hotels & Resorts acknowledges receipt of a letter dated February 1, 2013, from Orange Capital, a shareholder who only recently acquired shares in the Company. The Board carefully reviewed the letter in its entirety and strongly disagrees with certain assumptions and conclusions outlined in the communication.  While we are disappointed Orange Capital released its letter publicly to advance its short-term trading interest, we remain focused on maximizing the longer-term interests of our shareholders.

We believe in open, transparent communications with our shareholders and regularly communicate our Company's strategy, investment merits, risks and opportunities. Strategic Hotels is acknowledged to have among the highest quality portfolios in the industry and remains focused on delivering on its well-articulated operating and balance sheet strategy. We remain open to strategic opportunities to enhance our already pristine portfolio and will always act to enhance long-term shareholder value.

In addition, the letter from Orange Capital does not constitute an offer to acquire the Company.

About Strategic Hotels & Resorts, Inc.
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 multi-purpose meeting and banqueting space. 


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