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Michael Jordan's Steak House is Opening Late Summer 2011 Inside The Historic Intercontinental Chicago

After 12 years, Michael Jordan is returning to the Chicago restaurant scene.

Monday, March 28, 2011
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Strategic Hotels & Resorts, Inc. (NYSE: BEE), owner of the InterContinental Chicago Magnificent Mile, has partnered with Chicago-based Cornerstone Restaurant Group to open a new Michael Jordan's Steak House inside the historic property. The restaurant will occupy the second floor dining room and first floor lobby bar space, replacing both Zest restaurant and The Lobby Bar. Construction is set to begin this spring.

"I'm excited about bringing a Michael Jordan's Steak House to Chicago, especially to the world famous Magnificent Mile," says Michael Jordan. "I'm already looking forward to dining here."

The restaurant will be 6,300 square feet with seating in the dining room for 160, seating in the bar for 91, and two private dining spaces that will seat 18 people each. In this new arrangement, Cornerstone becomes the sole license consultant for the restaurant, which will be operated by the InterContinental.

"Given Cornerstone Restaurant Group's excellent reputation, successful local and national properties and passion for the restaurant industry, we are delighted to forge this relationship to bring such an iconic restaurant brand to the heart of Chicago's Magnificent Mile," says Richard Moreau, executive vice president, Strategic Hotels & Resorts, Inc.

"Together with our renowned partners, Strategic Hotels & Resorts and InterContinental Chicago Magnificent Mile, we look forward to starting a new chapter for our brand in this extraordinary city," says David Zadikoff, chief executive officer, Cornerstone Restaurant Group.

The new restaurant at the InterContinental Chicago Magnificent Mile is the third location for Michael Jordan's Steak House, with others at Grand Central Terminal in New York City and the Mohegan Sun Casino Resort in Uncasville, Connecticut.

About Strategic Hotels & Resorts, Inc.
Strategic Hotels & Resorts, Inc. is a real estate investment trust (REIT) which owns and provides value-enhancing asset management of high-end hotels and resorts in the United States, Mexico and Europe. The company currently has ownership interests in 18 properties with an aggregate of 7,954 rooms. For a list of current properties and for further information, please visit the company's website at www.strategichotels.com.

About Cornerstone Restaurant Group
Cornerstone Restaurant Group and affiliate Jump Higher, L.L.C., led by restaurateurs Jonathan Albert and David Zadikoff, in collaboration with Michael Jordan, oversee all Michael Jordan-brand restaurants, including one sixtyblue in Chicago and Michael Jordan's Steak House, Michael Jordan's 23.sportcafe and SolToro Tequila Grill at Mohegan Sun Casino Resort in Uncasville, CT. Cornerstone Restaurant Group also oversees operations for WAVE at the W Chicago-Lakeshore and ZYLO at the W Hoboken. For more information, visit www.cornerstonerestaurants.com.

About InterContinental Chicago Magnificent Mile
TheInterContinental Chicagois the only hotel with a front entrance on the prestigious Magnificent Mile, Chicago's most desirable address. Originally built in 1929 as the Medinah Athletic Club, an exclusive luxury men's club, the property is one of Chicago's most elegant landmarks. The hotel features 792 refurbished guest rooms, including 73 lavishly decorated suites. The hotel's historic, junior Olympic size pool is recognized as one of the best indoor pools in the U.S. and is included in Chicago's major architectural tours. For more information on the hotel, please visit www.icchicagohotel.com.
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