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Strategic Hotels And Resorts Acquires Stake In The Del

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SAN DIEGO, CA- Strategic Hotels and Resorts, formerly known as Strategic Hotel Capital, Inc., has acquired a 45% interest in the Hotel del Coronado via a joint venture with existing owners Kohlberg Kravis Roberts & Co.
The $745 million aggregate purchase price for the joint venture includes the 679-room property, spa and beach club under development, a separate 78-room beachfront condominium-hotel under construction, and a zoned parcel for an additional 144-room development. The deal is expected to close in Q1 2006.

http://www.hotelbusiness.com/links/archive/archive_view.asp?ID=26670&search_variable=condominium%20hotel

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