Hilton Completes Sale of Eight European Hotels
BEVERLY HILLS, CA, July 20, 2007. Hilton Hotels Corporation (NYSE:HLT) has today completed the sale of eight hotels in Europe to a fund managed by Morgan Stanley Real Estate.
Completion of the sale of two further hotels (Hilton Brussels and Hilton Zurich) to the same purchaser is expected by the end of the third quarter 2007.
The gross proceeds from the sale of all 10 properties are expected to be approximately EUR566 million.
- The eight European properties are:
-
Hilton Dresden,
-
Hilton Dusseldorf,
-
Hilton Weimar,
-
Hilton Charles de Gaulle,
-
Hilton Strasbourg,
-
Hilton Luxembourg,
-
Hilton Barcelona and
-
Los Zocos Club Resort in the Canary Islands.
- An agreement to sell the ten hotels was previously announced on April 26th.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
