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Ladbroke Deal Reunites Hilton Brand

January 14, 1997|Times Staff and Wire Reports

Britain's Ladbroke Group concluded a long-awaited global alliance with Hilton Hotels Corp., reuniting the Hilton brand worldwide for the first time in 32 years. Despite the linkup, which covers 400 hotels in 49 countries, the two companies denied there was a hidden agenda to progress toward a full merger of the two groups. The companies said the deal covering sales and marketing, frequent-customer programs and development will fuel top-line growth and dispel the confusion that has surrounded the two groups in recent years. Beverly Hills-based Hilton has operated separately within and outside the U.S. market since 1964, when Hilton International was spun off from HHC. The companies also said a worldwide loyalty program, Hilton HHonors Worldwide, will start Feb. 1. Hilton shares were unchanged at $25.50 and Ladbroke American depositary receipts were unchanged at $4.47, both on the New York Stock Exchange.

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