Hilton Hotels Corp

On bright days, the rooftop of the Anaheim Hilton is so blindingly white that it looks like a mirror positioned directly at the sun. That dazzling glare might just be the greenest thing to happen to the top of a building since solar panels. The white coating deflects nearly 85% of the heat that hits it, reducing the surface temperature by as much as 50 degrees. That means less energy is needed to cool the hotel's interior, cutting air-conditioning costs and carbon emissions.

Hilton Hotels Corp., one of Southern California's marquee businesses, will pull up stakes this year and move from Beverly Hills to the Washington, D.C., area, the company said Wednesday. The famous hotel operator has been headquartered in Beverly Hills since 1969 but was taken over in 2007 by corporate buyout giant Blackstone Group in a $26-billion deal that converted Hilton from a publicly traded Fortune 500 company to a private one.

Stephen F. Bollenbach, the former Walt Disney Co. executive who engineered Hilton Hotels Corp.'s international expansion, will step down as chief executive at the end of the year but will continue serving as chairman, the company said Thursday. Hilton said it was searching for a successor. An early favorite is President and Chief Operating Officer Matthew J. Hart, who was added to Hilton's board of directors in a separate move Thursday.

Hilton Hotels Corp. said Wednesday that its fourth-quarter profit nearly doubled as revenue per available room increased and revenue from leased hotels surged. The company raised its 2007 estimates for per-room revenue, a key industry measure -- a sign that the company's expansion plans are being matched by increased worldwide demand. Shares of Beverly Hills-based Hilton rose 99 cents to $35.39. Hilton's board should also decide on a successor to retiring Chief Executive Stephen F.

Hilton Hotels Corp. said Friday that it would sell its Scandic Hotels chain to private equity group EQT for about $1.1 billion as it sought to reduce debt amid rising lodging valuations. Lodging companies have been taking advantage of robust demand for hotel properties to trim their portfolios. On Thursday, Host Hotels & Resorts Inc. said it had sold three Marriott hotels for $214 million.

Stephen F. Bollenbach, chairman and chief executive of Beverly Hills-based Hilton Hotels Corp., received compensation last year valued at $17.5 million, according to a regulatory filing. His compensation package included $1 million in salary, a bonus of $137,830, stock and options worth about $14 million when granted, non-equity incentive plan compensation of $2 million and other compensation totaling $368,464, Hilton said in its Securities and Exchange Commission proxy statement.

Hilton Hotels Corp. posted lower first-quarter profit and slightly cut its 2007 earnings forecast Monday, but analysts said the lodging industry remained strong despite a recent slowing of business. The Beverly Hills-based company attributed the 8.7% drop in quarterly earnings to higher costs and lost business related to major renovations at hotels and fewer guests in Hawaii. Investors drove Hilton shares down $1.32, or 3.7%, to $34. For its long-term outlook, the company remained upbeat.

An investment fund partly owned by former NBA superstar Earvin "Magic" Johnson has teamed with a real estate company to purchase the 1,119-room Hilton Washington hotel from Hilton Hotels Corp. for $290 million, the companies said. Johnson's Canyon-Johnson Urban Fund and L.A.-based Lowe Enterprises Investors signed a long-term agreement with Hilton to manage the hotel.

Hilton Hotels Corp. confirmed Sunday that it had reached agreements to develop about 55 hotel properties in Russia, Britain and Central America with a group of partners. "HHC does have agreements in place to form alliances for development in the three markets outlined, which is expected to result in around 55 hotels in total," said Linda Bain, vice president of international communications for the Beverly Hills-based company.

Hilton Hotels Corp. said it signed a letter of understanding with Somerston Hotels UK Ltd. to develop hotels in Britain. Under the agreement, Somerston, which is privately owned, is expected to develop at least 25 Hampton by Hilton hotels, comprising 3,000 rooms, over the next five years. The agreement is part of Hilton's plan to expand its mid-tier brands internationally. The Somerston agreement is Hilton's second major development deal in Britain.