Dallas, Texas 11/06/2013 (Financialstrend) – In Tuesday’s trading, Strategic Hotels and Resorts Inc (NYSE:BEE) dropped by 1.59%. The opening price of the shares was $8.74, which climbed to an intraday high of $8.81 and dipped to a close of $8.65. Approximately 0.648 million shares were traded on Tuesday while an average volume of 0.765 million shares were traded over a 30 day period. The 52-week low of Strategic Hotels and Resorts Inc (NYSE:BEE) shares is $5.69 and its 52-week high is $9.69. The company has a market capitalization of $1.88 billion.
About the company
Strategic Hotels and Resorts Inc (NYSE:BEE) was incorporated on 27 January 2004. it operates as a self managed and self- administered real estate investment trust As of 31 December 2012, its portfolio included 18 different full service hotel-interests located in urban & resort markets in the U.S; Hamburg, Punta Mita, Nayarit, Mexico, Germany, & London, England. Strategic Hotels and Resorts Inc (NYSE:BEE) conducts its operations via its direct & indirect subsidiaries, including its operating-partnership, Strategic Hotel Funding, L.L.C. This holds all of Strategic Hotels and Resorts Inc (NYSE:BEE)’s assets.
Strategic Hotels and Resorts Inc (NYSE:BEE) is the sole managing-member of SH Funding & held around 99% of its membership-units as of 27 February 2013. The company manages all the SH Funding’s business-aspects , including the sale & purchase of hotels. It also looks after the investment in the hotels and financing of SH Funding & its assets. In 2012 September, Strategic Hotels and Resorts Inc (NYSE:BEE) acquired JW Marriott Essex House Hotel located in New York City. In 2013 October it announced that it had sold it Lakeshore Athletic Property that is near the Fairmont Chicago Hotel.
As of 31 December 2012, SH Funding owned the interests in or leased 18 hotels. These included Fairmont Chicago, Four Seasons Jackson Hole, Fairmont Scottsdale Princess, Four Seasons Washington, D.C, Four Seasons Silicon Valley, Four Seasons Punta Mita Resort, Hyatt Regency La Jolla and Hotel del Coronado amongst others.
