Strategic Hotels & Resorts Closes on Acquisitions of The Fairmont Scottsdale Princess and Marriott London Grosvenor Square

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Strategic Hotels & Resorts Closes on Acquisitions of The Fairmont Scottsdale Princess and Marriott London Grosvenor Square
Strategic Hotels & Resorts Closes on Acquisitions of The Fairmont Scottsdale Princess and Marriott London Grosvenor Square
Category: Europe - This is a press release selected by our editorial committee and published online for free on 2006-09-06 Strategic Hotels & Resorts, Inc. (NYSE: BEE) today announced that the company has closed on its acquisition of The Fairmont Scottsdale Princess from an affiliate of Fairmont Raffles Holdings International for a purchase price of $345.0 million, and an adjacent 10-acre development parcel for $15.0 million. The company has also closed on its acquisition of the Marriott London Grosvenor Square from an affiliate of Blackstone Real Estate Partners for a purchase price of 103.0 million pounds Sterling.