Hilton Hotels Acquires Hilton Group PLC
December 29, 2005
BEVERLY HILLS, California -- The Hilton Hotels Corporation has reached an agreement to acquire the lodging assets of Hilton Group plc for approximately $5.71 billion.
The transaction is expected to close in the first quarter of 2006. Upon completion, HHC will include nearly 2,800 hotels and 475,000 rooms in 80 countries.
''This transaction represents the final and logical step in a process that began in 1997 with the signing of our strategic alliance, and is a unique opportunity to once again position HHC as a global industry leader for the first time in more than 40 years,'' said Stephen F. Bollenbach, HHC co-chairman and CEO.
The transaction is expected to close in the first quarter of 2006. Upon completion, HHC will include nearly 2,800 hotels and 475,000 rooms in 80 countries.
''This transaction represents the final and logical step in a process that began in 1997 with the signing of our strategic alliance, and is a unique opportunity to once again position HHC as a global industry leader for the first time in more than 40 years,'' said Stephen F. Bollenbach, HHC co-chairman and CEO.
