Hilton Completes Sale of Eight European Hotels
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Hilton Completes Sale of Eight European Hotels
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Category: Europe
This is a press release selected by our editorial committee and published online for free on 2007-07-20
Hilton Hotels Corporation (NYSE:HLT) has today completed the sale of eight hotels in Europe to a fund managed by Morgan Stanley Real Estate.
Completion of the sale of two further hotels (Hilton Brussels and Hilton Zurich) to the same purchaser is expected by the end of the third quarter 2007.
The gross proceeds from the sale of all 10 properties are expected to be approximately €566 million.
Notes to Editors:
1. The eight European properties are - Hilton Dresden, Hilton
Dusseldorf, Hilton Weimar, Hilton Charles de Gaulle, Hilton
Strasbourg, Hilton Luxembourg, Hilton Barcelona and Los Zocos
Club Resort in the Canary Islands.
2. An agreement to sell the ten hotels was previously announced on
April 26th.
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