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Hilton Hotels Corp

BUSINESS
May 1, 2007 | Kimi Yoshino, Times Staff Writer
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.
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BUSINESS
April 17, 2007 | Kimi Yoshino, Times Staff Writer
Aiming to satisfy tech-savvy guests, Hilton Hotels Corp. and ABC are pairing up to bring "time-shifted" episodes of popular shows such as "Lost" and "Grey's Anatomy" into some guest rooms. Starting this week, 55 so-called Sight+Sound rooms at two Hiltons, one in Chicago and one in San Francisco, will feature 42-inch plasma high-definition televisions, digital surround sound systems and cable wires capable of connecting a suitcase full of MP3 players, digital cameras and gaming consoles.
BUSINESS
April 13, 2007 | From the Associated Press
Northrop Grumman Corp. Chairman and Chief Executive Ronald D. Sugar received a compensation package for 2006 valued by the Century City-based defense contractor at $18.6 million. Sugar's compensation package included a salary of $1.4 million, stocks and options valued at $13.7 million when they were awarded, non-equity incentive plan compensation of $3.1 million and other compensation of $416,857, Northrop Grumman said in a proxy statement.
BUSINESS
April 13, 2007 | From the Associated Press
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.
BUSINESS
March 27, 2007 | From Bloomberg News
Hilton Hotels Corp., the second-largest U.S. hotel company, said it would build a time-share property outside of Las Vegas that would include its first units under the Waldorf-Astoria brand. The project, which is scheduled to open in 2009, also will include 200 Hilton-branded units at the Lake Las Vegas Resort in Henderson, Nev., the company said.
BUSINESS
March 5, 2007 | From Reuters
McDonald's Corp. is blogging on the environment, Starbucks Corp. has designed a green-themed online game and Hilton aims to link manager pay to making its hotels greener. While all of them say they have been working for years or even decades on pro-environment strategies, these corporate behemoths acknowledge that U.S. consumers' growing awareness of global warming is changing the way they work.
BUSINESS
March 3, 2007 | From Reuters
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.
BUSINESS
February 1, 2007 | From the Associated Press
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.
BUSINESS
January 19, 2007 | Ashley Surdin, Times Staff Writer
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.
BUSINESS
December 14, 2006 | From Bloomberg News
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.
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