BEE - Strategic Hotels & Resorts, Inc.

Strategic Hotels & Resorts, Inc. (SHR) is a self-administered and self-managed real estate investment trust (REIT). It owns and asset manages upper upscale and luxury hotels that are subject to long-term management contracts. SHR owns its properties through its investment in Strategic Hotel Funding, L.L.C. (SH Funding), its operating partnership, and its subsidiaries. The Company is the managing member of SH Funding and held approximately 99% of its membership units as of February 24, 2010. As of February 24, 2010, SHR wholly owned or leased 14 hotels; held a 51% interest in affiliates that own two hotels where SHR asset manages such hotels, and held a 45% interest in and acted as asset manager for a joint venture that owns one hotel. Its existing hotels are operated under the upper upscale and luxury brands of Fairmont, Four Seasons, Hyatt, Ritz-Carlton and Westin. In April 2011, the Company sold its leasehold interest in the Paris Marriott Champs Elysees hotel.