In a cash deal reported to be worth US$5.7 billion, US-based Hilton Hotels Corporation is buying the assets of the UK-owned Hilton International group of hotels, reuniting the brands for the first time since 1964, when the US company sold off all its hotels outside the States. Its purchase of some 240 international properties adds to its existing stock of 2,300 in the US. According to one leading analyst, it makes sound sense for the consolidation of the two companies, putting them on a par with their key competitors – Marriott and Starwood, both of which have integrated international platforms. Once the deal has been finalised, Hilton Hotels Corporation will be the largest and most geographically diverse lodging company in the world, with nearly 2,800 hotels and 475,000 rooms in 80 countries, operating under the industry's most respected brand names, including Hilton, Conrad, Doubletree, Embassy Suites, Hampton Inn, Hilton Garden Inn, Homewood Suites by Hilton, Scandic and Hilton Grand Vacations Club. Marriott International has 2,600 properties in the US and 68 other countries and territories, while Starwood has around 750 properties in more than 80 countries. The transaction is expected to be completed by the spring. www.hilton.com
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