March 3, 2007 |
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.
February 1, 2007 |
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.
January 19, 2007 |
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.
December 14, 2006 |
Hilton Hotels Corp. said Wednesday that earnings per share might increase 16% to 22% through 2009. Revenue per available room, a measure of rates and occupancy, may grow 7% to 9% a year, the Beverly Hills-based company said. Earnings per share may rise to as much as $2 in 2009, from an estimated $1.15 for 2006. Hilton bought Britain-based Hilton Group in February to expand its chains such as Hilton Garden Inn in fast-growing markets such as India and China.
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.
November 1, 2006 |
Strong domestic demand for hotel rooms allowed Hilton Hotels Corp. to raise room rates and post 31.5% growth in net income in the third quarter, the company said Tuesday. Hilton, in reporting rising revenue from its international hotels, said in a call with analysts that it was focusing on opening mid-range hotels in emerging markets such as India and China to ensure continued growth.
October 10, 2006 |
Hilton Hotels Corp. said it had reached a tentative agreement with the Unite Here union on a new contract covering 1,550 employees at the Hilton Hawaiian Village Beach Resort & Spa. The vote by union members at the resort, the biggest in Hawaii, is expected this week. Shares of Beverly Hills-based Hilton rose 20 cents to $28.92.
September 21, 2006 |
Hilton Hotels Corp. sold five hotels in Canada for about $215 million. The hotels, including the 600-room hotel in downtown Toronto and the 413-room Hilton near the city's international airport, will continue to be managed by Hilton, the Beverly Hills-based company said.
September 1, 2006 |
Hilton Hotels Corp. announced a tentative agreement with the Unite Here union on a new contract covering 2,300 employees at four Chicago hotels. The three-year agreement is subject to ratification by the union's Local 1 and Local 450 chapters and covers Hilton Chicago, Hilton O'Hare Airport, the Drake and Palmer House Hilton. The pact includes improved pay, pension and healthcare provisions. Beverly Hills-based Hilton Hotels said details would be released after next week's ratification vote.
August 29, 2006 |
Hotel workers at the Hilton Los Angeles Airport -- the second-largest hotel in the county -- were blocked from the premises on days off, given reduced hours, put under surveillance and punished for participating in a union organizing drive, according to a complaint filed with the National Labor Relations Board. The complaint alleges 40 violations of the National Labor Relations Act.