Strategic Hotels & Resorts Declares First Quarter Dividends

CHICAGO, March 6 /-/ -- Strategic Hotels & Resorts, Inc. (NYSE: BEE), announced today that its Board of Directors has declared a quarterly dividend of $0.24 per share of common stock. The dividend is payable to shareholders of record as of the close of business on March 28, 2008. The dividend will be paid on April 10, 2008.

    The company also announced today that its Board of Directors has declared a quarterly dividend of $0.53125 per share of 8.5 percent Series A Cumulative Redeemable Preferred Stock payable on March 31, 2008 to shareholders of record on March 21, 2008, a quarterly dividend of $0.51563 per share of 8.25 percent Series B Cumulative Redeemable Preferred Stock payable on March 31, 2008 to shareholders of record March 21, 2008 and a quarterly dividend of $0.51563 per share of 8.25 percent Series C Cumulative Redeemable Preferred Stock payable on March 31, 2008 to shareholders of record March 21, 2008.

    About the Company

    Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe. The company currently has ownership interests in 20 properties with an aggregate of 9,044 rooms. For a list of current properties and for further information, please visit the company's website at http://www.strategichotels.com.

     COMPANY CONTACT:

     Ryan Bowie

     Vice President and Treasurer,

     Strategic Hotels & Resorts

     (312) 658-5766