Strategic Closes on Fairmont Scottsdale Princess and Marriott London Grosvenor Square
SEPTEMBER 5, 2006. 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.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
