Industry Update
External Article14 October 2005

U.S. Hilton in talks to buy UK Hilton's hotels

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U.S. group Hilton Hotels Corp is in talks to buy the hotels of its UK namesake, the companies announced on Friday, a deal which would reunite the Hilton brand after more than 40 years and could be worth 3.6 billion pounds in cash, an industry source said. Shares in Britain's Hilton Group jumped as much as 19 percent on Friday as investors hoped the high-than-expected price for its hotels would led to a bumper cash handout, while they would still own shares in the group's faster-growing Ladbrokes betting business. Shares in the world's largest hotelier InterContinental Hotel also rose 4.9 percent to 722-1/2p on the news.

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