CHICAGO, June 2 /PRNewswire-FirstCall/ -- Strategic Hotels & Resorts, Inc. (NYSE:BEE) today announced that the company closed on its acquisition of the Westin St. Francis San Francisco hotel from an affiliate of Blackstone Real Estate Partners for a purchase price of $440.0 million. About the Company Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT), which owns and asset manages high-end hotels and resorts. The company has ownership interests in 19 properties with an aggregate of 9,658 rooms. For further information, please visit the company's website at http://www.strategichotels.com/ . DATASOURCE: Strategic Hotels & Resorts, Inc. CONTACT: James Mead, Chief Financial Officer, of Strategic Hotels & Resorts, +1-312-658-5740; or General Information, Leslie Loyet, +1-312-640-6672, or Media Inquiries, Tim Grace, +1-312-640-6667, both of Financial Relations Board Web site: http://www.strategichotels.com/

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