Hilton Hotels Corporation’s (HHC) shareholders have approved the company’s £13
billion takeover by Blackstone, the US private equity group. Under the deal, due to be completed by the end of this month, Blackstone will pay HHC shareholders $47.50 (£23) per share in cash.
HHC has 2,800 hotels and 485,000 rooms in 76 countries, while Blackstone’s portfolio of hotels includes The Boulders Resort and Spa in Arizona, The London NYC in New York and El Conquistador Resort in Puerto Rico.
Meanwhile, property company The Ability Group has agreed to buy the Hilton Hotel Liverpool (pictured) from Grosvenor for a figure believed to be around £60 million. The 216-bedroom property is part of Grosvenor’s £1 billion Paradise Project regeneration scheme. Hilton will operate the hotel, which will open in 2009, under a 20-year management contract.