Cascade buys 1.85 million shares of Strategic Hotels, may talk about direction

By Lisa Kerner

Charlotte, N.C., Oct. 6 - Bill Gates' Cascade Investment LLC bought 1.85 million shares of Strategic Hotels & Resorts, Inc. between Aug. 4 and Aug. 14.

Cascade Investment, citing recent declines in the value of the company's common stock, may engage in discussions with the company's directors and management concerning the strategic direction of Strategic Hotels & Resorts as well as ways to enhance shareholder value.

The shares purchased had average weighted prices between $7.7414 and $9.4700, according to a schedule 13D filed with the Securities and Exchange Commission.

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