Strategic Hotels files $350 million shelf registration

By Devika Patel

Knoxville, Tenn., March 4 - Strategic Hotels & Resorts Inc. and its subsidiaries jointly filed a $350 million shelf registration in an S-3 filing with the Securities and Exchange Commission.

The registration for the parent covers common stock, preferred stock, depositary shares, debt securities, warrants, subscription rights and units.

The subsidiaries' registration covers preferred securities, which will be guaranteed by the parent.

The securities may be structured as convertibles.

Proceeds will be used to repay debt, acquire and develop hotel properties, invest in future co-investment ventures, make improvements to hotel properties and fund general business purposes.

Strategic, formerly known as Strategic Hotel Capital Inc., is a Chicago-based real estate investment trust.

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