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Takeover of Strategic Hotels & Resorts by Blackstone confirmed

Strategic Hotels & Resorts announced shareholders' approval of the sale of all available shares in the Blackstone group. The transaction will be finalized tomorrow.

As announced in September, all shares available in Strategic Hotels & Resorts will be sold to the Blackstone group for a unit price of 14.25 dollars, or 13% more than the last trading price, and a global evaluation of the company at 6 billion dollars, including assumed debts.

Investment funds specialized in the luxury industry, Strategic Hotels & Resorts is at the head of a portfolio of 17 properties in the United States, representing a total of close to 7,921 rooms and around 847,000 square meters. These hotels are operated under international brands such as Four Seasons, Ritz Carlson Fairmont, Westin, InterContinental and Loews. Blackstone thus realizes the biggest transaction on the American market in recent years. 

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