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Strategic Hotels & Resorts, Inc. (SHR) operates as a self-administered and self-managed real estate investment trust (REIT). SHR owns and asset manages upper upscale and luxury hotels that are subject to long-term management contracts. The Company conducts its operations through its direct and indirect subsidiaries, including Strategic Hotel Funding, L.L.C (SH Funding). As of December 31, 2007, SHR’s portfolio included 20 full-service hotel interests located in urban and resort markets in the United States; Paris, France; Mexico City and Punta Mita, Nayarit, Mexico; Hamburg, Germany; London, England, and Prague, Czech Republic. SHR operates in one reportable business segment: hotel ownership. The Company’s existing hotels are operated under brands of Fairmont, Four Seasons, Hyatt, InterContinental, Loews, Marriott, Ritz-Carlton and Westin. The Hotel del Coronado is operated by a management company, KSL Resorts.(Source: 10-K)