Washington, D.C. for $168.9 million
Jan. 23, 2006 - Strategic Hotel Capital, Inc. (NYSE: SLH), which operates
as Strategic Hotels & Resorts, today announced it has signed an agreement
to acquire the Four Seasons Washington, D.C. hotel from an entity controlled
by the Louis Dreyfus Property Group for a purchase price of $168.9 million.
The acquisition, which is expected to close during the first quarter 2006,
remains subject to customary closing conditions.
The 211-room luxury hotel is located in Georgetown, just 12 blocks from the White House and received the highly-coveted 2005 Mobil Five-Star award, the only Washington, D.C. area hotel to receive such recognition. The hotel recently reopened after a just completed $27.0 million renovation that reduced the number of rooms from 257 to a more desirable mix of 211 luxury guestrooms.
The hotel features 160 rooms, 51 luxury suites, 12,500 square feet of
meeting space, 24,000 square feet of retail space, underground parking,
and a 12,500 square foot Four Seasons fitness club and spa. Four
Seasons will continue to manage the property subsequent to the acquisition.
About the Company
This press release contains forward-looking statements about Strategic
Hotel Capital (the "Company"). .
Strategic Hotel Capital, Inc.
|Also See:||Four Seasons Hotel Washington, DC; A Quarter Century Commitment to Staff, Guests and to the Nation's Capital / March 2004|
|How Four Seasons Hotel Beat the Heat During the Georgetown Blackout; Manhole fires and power outages in Georgetown left residents and business owners without electricity / June 2001|