Strategic Hotels & Resorts Announces Pricing Of Public Offering Of 16 Million Shares Of Common Stock at $6.50/Share

Strategic Hotels & Resorts, Inc. (the "Company") BEE announced today that it priced its previously announced underwritten public offering of 16.0 million shares of its common stock at $6.50 per share. The Company has granted the underwriters a 30-day option to purchase up to 2.4 million additional shares of common stock to cover over-allotments, if any. The Company estimates that the net proceeds from the Offering after underwriting discounts and commissions and estimated offering expenses, will be approximately $99.4 million or approximately $114.4 million if the underwriters' over-allotment option is exercised in full. Deutsche Bank Securities and Raymond James & Associates, Inc. are acting as joint book-running managers for the Offering.