FIRST AMENDMENT TO CREDIT AGREEMENT Dated as of March 29, 2007 among

Exhibit 4.4

FIRST AMENDMENT TO

CREDIT AGREEMENT

Dated as of March 29, 2007

among

STRATEGIC HOTEL FUNDING, L.L.C.,

as the Borrower,

VARIOUS FINANCIAL INSTITUTIONS,

as the Lenders,

DEUTSCHE BANK TRUST COMPANY AMERICAS, as the Administrative Agent

DEUTSCHE BANK SECURITIES INC. and

CITIGROUP GLOBAL MARKETS INC.

as Co- Lead Arrangers and Joint Book Running Managers

CITICORP NORTH AMERICA, INC. and

WACHOVIA BANK NATIONAL ASSOCIATION as Co-Syndication Agents

BANK OF AMERICA, N.A. and

JPMORGAN CHASE BANK, N.A. as Co-Documentation Agent

and

LASALLE BANK, NATIONAL ASSOCIATION

As Senior Managing Agent

FIRST AMENDMENT TO CREDIT AGREEMENT

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this Amendment) is dated as of March 29, 2007 by and among STRATEGIC HOTEL FUNDING, L.L.C., a Delaware limited liability company (the Borrower), DEUTSCHE BANK TRUST COMPANY AMERICAS (DBTCA), as the administrative agent (in such capacity, the Administrative Agent) and the various financial institutions as are or may become parties to the Credit Agreement (as hereinafter defined) (together with DBTCA, collectively the Lenders and each individually, a Lender).

W I T N E S S E T H:

WHEREAS, pursuant to that certain Credit Agreement, dated as of March 9, 2007, by and among Borrower, the Lenders, and the Administrative Agent (as amended, restated, replaced, supplemented or otherwise modified from time to time, the Credit Agreement), Borrower obtained the Facility from the Lenders; and

WHEREAS, Borrower has requested that the Lenders agree to amend the Credit Agreement as set forth herein;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree to amend the terms of the Credit Agreement as follows:

“Capped Call Options” shall mean over-the-counter call options to purchase shares of Guarantor common stock to hedge the obligations of Borrower or Guarantor in respect of convertible or exchangeable debt securities issued by Borrower or Guarantor.”

“Prague Indebtedness” means the Eur 104,000,000 loan made by Aareal Bank AG to SHR Prague Praha B.V. and any extension, restatement or refinancing of such Indebtedness, subject to compliance with the covenants set forth in Section 7.2.4, so long as (i) there is no additional recourse to Borrower or Guarantor as a result of such refinancing and (ii) such extension, restatement or refinancing is approved by the Administrative Agent in its reasonable discretion.

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“(h) Unsecured Indebtedness of Borrower or Guarantor not otherwise permitted under the foregoing clauses (a)-(g), subject to compliance with the covenants set forth in Section 7.2.9, not to exceed $250,000,000 in aggregate principal amount at any time.”

“(i) Intercompany Indebtedness issued in accordance with Section 7.1.11.”

“(l) Investments in Capped Call Options and the execution and performance of any intercompany transactions incidental to the issuance and settlement of the related exchangeable or convertible securities, including, without limitation, any agreement pursuant to which Guarantor will deliver to Borrower shares of Guarantor common stock deliverable upon conversion or exchange of such securities.”

“(iii) Guarantor and Borrower may purchase and exercise Capped Call Options.”

“The foregoing restriction shall not be deemed to apply to the purchase or exercise of Capped Call Options by Borrower or Guarantor.”

“Section 8.1.5 Default on Other Indebtedness. A default shall occur in the payment when due (subject to any applicable grace period), whether by acceleration or otherwise, of any Indebtedness (other than Indebtedness described in Section 8.1.1) of the Consolidated Group having a principal amount, individually or in the aggregate, in excess of $25,000,000, or a default shall occur in the performance or observance of any obligation or condition, or any other event shall occur or condition shall exist, in either case, with respect to such Indebtedness (subject to any applicable grace period) if the effect of such default or other event or condition is to accelerate the maturity of any such Indebtedness or cause such Indebtedness to become due and payable or to require such Indebtedness to be prepaid, redeemed, purchased or defeased, or to cause an offer

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to purchase or defease such Indebtedness to be required to be made, prior to its expressed maturity; provided, however, that payments required pursuant to the terms of an instrument or agreement otherwise permitted hereunder, that are not the result of a default in the performance or observance of any obligation or condition, shall not be deemed a default under this Section 8.1.5.”

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IN WITNESS WHEREOF, the parties hereto have entered into this Amendment on the date first written above.

BORROWER:

LENDERS:

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