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.
Previous ArticleNYLO Hotels Names General Counsel
Next Article Mumford Co. Brokers Four New Deals