16th Mar 2005 08:11
Hilton Group PLC16 March 2005 Hilton Group plc announces the exchange of contracts on 15 March 2005 for thesale of eleven hotels in the United Kingdom to Stardon UK Limited - a jointventure between Starwood Capital and Chardon Hotels Limited. The hotels - which were projected to have an EBITDA in 2005 of approximately £10million - have been sold for £111 million in cash, which equates to net bookvalue. Completion of the sale is expected within five weeks and, in respect offour hotels, is subject to receiving certain third party approvals. For further information please contact: Brian WallaceGroup Finance Director and Deputy Group Chief ExecutiveHilton Group plc Telephone +44 (0) 20 7856 8109 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ladbrokes Coral