Hilton Sells Anchorage Hotel
ANCHORAGE, AK, December 29, 2005. Hilton has sold the 600-room Anchorage Hilton to CP Anchorage Hotel 2, a Delaware limited liability company, for approximately $65 million.
It is estimated that the new ownership will spend $12 million in additional capital to upgrade the property. The hotel will continue to operate as a Hilton branded property under the terms of a 20-year franchise agreement. "We are pleased to have received an attractive price for this property, while keeping it in the Hilton Family as part of a franchise agreement," said Dave Sherf, senior vice president - Real Estate/Asset Management, Hilton Hotels Corporation.
Hilton Hotels Corporation is recognized internationally as a preeminent hospitality company. The company develops, owns, manages or franchises approximately 2,300 hotels, resorts and vacation ownership properties.
Its portfolio includes many of the world's best known and most highly regarded hotel brands, including Hilton(R), Conrad(R), Doubletree(R), Embassy Suites Hotels(R), Hampton Inn(R), Hampton Inn & Suites(R), Hilton Garden Inn(R), Hilton Grand Vacations Company(R) and Homewood Suites by Hilton(R).
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
