Strategic Hotels & Resorts
Strategic Hotels & Resorts is an American REIT in the hospitality industry.[1] It was publicly traded on the New York Stock Exchange as BEE.[2] The company owns 18 luxury hotels, 17 of which are located in the United States and one of which is in Germany.[3]
In September 2015, Strategic Hotels & Resorts sold itself to The Blackstone Group for $6 billion.[4]
Bill Gates through his investment firm, Cascade Investments Inc., has purchased 1.74 million shares of Stategic Hotels & Resorts Inc.’s common stock at a total price of $21.45 million – totaling 9.8% of the REIT’s shares. Gates is the sole owner of the investment firm.[5]
In March 2016, only 3 months after the Blackstone transaction closed, Anbang Insurance Group purchased Strategic for $6.5 billion. [6]
References
- ↑ Strategic Hotels & Resorts, Bloomberg Business
- ↑ Strategic Hotels & Resorts Larger Than S&P 500 Component Denbury Resources, Forbes, 3/2/2015
- ↑ Strategic Hotels & Resorts: Portfolio
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