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Strategic Hotels & Resorts

Baird/STR Hotel Stock Index rises 2.9% in August

The Baird/STR Hotel Stock Index reported a 2.9-percent increase in August to 2,397 and is up 18.4 percent year-to-date 2012. The index ended 2011 at 2,025. Robert W. Baird & Company and STR partnered to create the Baird/STR Hotel Stock Index—the first widely available U.S. hotel stock index in the hotel industry. The index combines Baird’s financial markets expertise, the data processing of STR and the up-to-the-minute distribution capabilities of HotelNewsNow.com.

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Strategic Hotels & Resorts, Inc. Acquires the Essex House Hotel – Iconic Asset in Central Park South will be Converted to the JW Marriott Brand

Strategic Hotels & Resorts, Inc. (NYSE: BEE) announced today that it has signed an agreement to purchase New York City’s Essex House Hotel from the Dubai Investment Group for a gross purchase price of approximately $362.3 million. The purchase price includes 509 hotel rooms, nine condominium units and significant hotel-level cash reserves. Net of the acquired cash reserves, the transaction equates to a purchase price of approximately $685,000 per unit, based on 518 total units. The transaction, which is subject to the satisfaction of customary closing conditions, is expected to close on or before September 7, 2012.

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Baird/STR Hotel Stock Index falls 3.5% in July

(Hendersonville/Milwaukee, USA – August 14th, 2012) The Baird/STR Hotel Stock Index reported a 3.5-percent decrease in July to 2,329 but is up 15.0 percent year-to-date 2012. The index ended 2011 at 2,025. Robert W. Baird & Company and STR partnered to create the Baird/STR Hotel Stock Index – the first […]

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