Strategic Hotels & Resorts, Inc. (NYSE: BEE), today announced that the Company has closed on the sale of its leasehold interest in the Paris Marriott Champs Elysees hotel for euro 29.2 million ($41.8 million). As part of the transaction, the Company also expects to receive an additional euro 11.6 million ($16.6 million) related to the release of the leasehold guarantee and other closing adjustments for total proceeds of euro 40.8 million ($58.4 million).