Beverly Hills 12/17/2009 2:39:39 AM
News / Business

Strategic Hotels Sells Property for $51.5 Million

Finance World News Update by EQUITIES Magazine

Today Strategic Hotels & Resorts Inc. announced its sale of the Renaissance Paris Hotel Le Parc Trocadero. The property will be bought by Westmont Hospitality-led investment group for euro 35.5 million ($51.5 million).

The sale is expected to close within 45 days.

Shares of Strategic (NYSE: BEE) were up 5 cents, or 2.84 percent, to $1.81.

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