October 15, 1997 |
Beverly Hills-based Hilton Hotels Corp. Chief Executive Stephen Bollenbach said he will seek to reverse three sales agreements totaling $625 million reached by ITT Corp. if it succeeds in its $11.5-billion takeover attempt. Bollenbach said Hilton will seek to undo ITT's $200-million sale of five hotels to FelCor Suite Hotels Inc.
March 25, 1998 |
FelCor Suite Hotels Inc. agreed to buy Bristol Hotel Co.'s hotel properties for about $1.8 billion in stock and assumed debt in a deal that would make it the largest owner of Holiday Inns. The purchase would more than double the number of properties owned by FelCor, which has hotels under such brands as Embassy Suites. FelCor expects the move to add to earnings as it renovates the hotels to boost occupancy and room rates. FelCor would swap about 0.
April 21, 1998 |
FelCor Suite Hotels Inc. agreed to buy eight hotels from Starwood Hotels & Resorts for $245 million, adding to its stable of Embassy Suites hotels. Six of the properties will remain or be converted to the Embassy Suites brand, which makes up the majority of FelCor's hotels. The other two will be Sheraton hotels.