Billionaire Icahn buys 1% stake in Hilton Hotels
NOVEMBER 15, 2006. Billionaire Carl Icahn, known for his active investment style, has acquired a 1% stake in Hilton Hotels Corp., according to a filing made public Tuesday.
The New York-based investor, through his Icahn Management investment fund, acquired a similarly sized stake in Wyndham Worldwide Corp., another big hotel operator, according to the filing with the Securities and Exchange Commission.
As of Sept. 30, Icahn owned 4.1 million shares of Hilton, worth $126.7 million at Tuesday's closing price of $30.91. It was a 52-week high for the stock, which gained 6 cents on the day. Executives at Beverly Hills-based Hilton couldn't be reached for comment. Icahn didn't return a call seeking comment. The investor has a well-earned reputation for buying stakes in companies and then leaning on management to make changes to boost shareholder returns.
This year, for example, Icahn tried to break up Time Warner Inc. with the goal of increasing its value.
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 
