Hilton considers pounds 3.5bn bid venture
HILTON GROUP is considering forming a joint venture to bid for the pounds 3.5bn Granada Compass hotels estate. The group declined to confirm reports it was in talks with Strategic Hotel Capital, a US venture owned by Goldman Sachs; Prudential Corp, the US banking and insurance group; and Spanish hotelier Sol Melia.
One report said Hilton has put pounds 500m into an investment fund, with Sol Melia and Strategic investing pounds 2bn each. Hilton said the group “remains interested in teaming up with other partners” for the hotels
February 20, 2008 | Filed Under Hotel Insurance