Strategic Hotels & Resorts Inc., an owner of luxury lodging properties across the U.S., agreed to be bought by affiliates of Blackstone Group LP in a deal valued at $6 billion including debt.

Blackstone offered $14.25 a share in cash, about 13% more than the unaffected intraday trading price on July 23, when Bloomberg reported on a potential transaction for the Chicago-based company.

Strategic owns high-end properties including the Ritz-Carlton Half Moon Bay in California and Manhattan’s Essex House.

To contact the reporter on this story: Christine Maurus in New York at To contact the editors responsible for this story: Kara Wetzel at Andrew Blackman, Chad Thomas

This article was written by Christine Maurus from Bloomberg and was legally licensed through the NewsCred publisher network.

Tags: blackstone
Photo Credit: The Ritz-Carlton Half Moon Bay in California. swang168 / Flickr