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AUSTIN, TEXAS — Strategic Hotels & Resorts has purchased the Four Seasons Austin hotel for $197 million. The 291-room hotel is located on 2.3 acres overlooking Lady Bird Lake in the midst of the Central Business District of Austin. The hotel features 28 suites, 18,000 square feet of indoor meeting space, two food and beverage outlets and a 5,500-square-foot spa. Strategic Hotels & Resorts Inc. is a real estate investment trust that owns and provides value-enhancing asset management of high-end hotels and resorts in the United States and Europe. The company has ownership interests in 19 properties with a total of 8,616 rooms and 893,000 square feet of multi-purpose meeting and banqueting space.