Strategic Hotels & Resorts

Strategic Hotels & Resorts is an American REIT in the hospitality industry.[1] It was publicly traded on the New York Stock Exchange as BEE.[2] The company owns 18 luxury hotels, 17 of which are located in the United States and one of which is in Germany.[3]

In September 2015, Strategic Hotels & Resorts sold itself to The Blackstone Group for $6 billion.[4]

Bill Gates through his investment firm, Cascade Investments Inc., has purchased 1.74 million shares of Strategic Hotels & Resorts Inc.’s common stock at a total price of $21.45 million – totaling 9.8% of the REIT’s shares. Gates is the sole owner of the investment firm.[5]

In March 2016, only 3 months after the Blackstone transaction closed, Anbang Insurance Group purchased Strategic for $6.5 billion.[6]

Selected hotels

References

  1. ↑ Strategic Hotels & Resorts, Bloomberg Business
  2. ↑ Strategic Hotels & Resorts Larger Than S&P 500 Component Denbury Resources, Forbes, 3/2/2015
  3. ↑ Strategic Hotels & Resorts: Portfolio
  4. ↑ Bray, Chad (September 8, 2015). "Blackstone Agrees to Buy Strategic Hotels and Resorts". The New York Times. Retrieved September 8, 2015.
  5. ↑ "Bill Gates Makes a Play To Acquire Strategic Hotels & Resorts - CoStar Group". www.costar.com. Retrieved 2015-11-14.
  6. ↑ Massoudi, Arash; Fontanella-Khan, James (2016-03-13). "China's Anbang agrees $6.5bn hotel deal with Blackstone". Financial Times. ISSN 0307-1766. Retrieved 2016-03-17.

External links


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