Hilton Hotels Corp. (NYSE:HLT - News) said on Friday that damage to its hotels and business lost due to Hurricane Katrina will be covered by insurance, although it will be some time before the money is collected. Nineteen Hilton-branded hotels in the New Orleans area have been evacuated and closed. Of those, Hilton owns the 317-room Hilton New Orleans Airport hotel and is a 70-percent owner of the 1,600-room Hilton New Orleans Riverside hotel, which is adjacent to the city's convention center.

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