Strategic Hotels & Resorts, Inc. (SHR) operates as a self-administered and self-managed real estate investment trust (REIT). As of December 31, 2012, the Company�s portfolio included 18 full-service hotel interests located in urban and resort markets in the United States; Punta Mita, Nayarit, Mexico; Hamburg, Germany, and London, England. SHR conducts its operations through its direct and indirect subsidiaries, including its operating partnership, Strategic Hotel Funding, L.L.C. (SH Funding), which holds all of the Company�s assets. SHR is the sole managing member of SH Funding and held approximately 99% of its membership units. SHR manages all business aspects of SH Funding, including the sale and purchase of hotels, the investment in these hotels and the financing of SH Funding and its assets. In April 2014, it sold 237-room Marriott London Grosvenor Square hotel. In June 2014, it acquired the remaining 63.6% ownership interest in the Hotel del Coronado.