Strategic Hotels & Resorts Announces Payment Of Preferred Dividends

CHICAGO, June 29, 2012 /PRNewswire/ -- Strategic Hotels & Resorts, Inc. (NYSE: BEE), today announced the payment of previously declared 14 quarters of preferred dividends to shareholders of record as of June 15, 2012, equating to $7.4375 per share of Series A Cumulative Redeemable Preferred Stock ($0.53125 per share per quarter), $7.21882 per share of Series B Cumulative Redeemable Preferred Stock ($0.51563 per share per quarter), and $7.21882 per share of Series C Cumulative Redeemable Preferred Stock ($0.51563 per share per quarter).  Payment of the dividends had been contingent upon the Company's ability to meet, on the June 29, 2012 payment date, the requirements of the Maryland General Corporation Law ("Maryland Dividend Requirement") with respect to the payment of the dividends. The Company satisfied the Maryland Dividend Requirement as of June 29, 2012.

IRS Form 8937 has been posted to the Company's web site in the Investor Relations section describing the impact the dividend has on a shareholder's tax basis in its shares. 

About the Company

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 17 properties with an aggregate of 7,762 rooms. For a list of current properties and for further information, please visit the company's website at http://www.strategichotels.com/.

SOURCE Strategic Hotels & Resorts, Inc.