BEVERLY HILLS, Calif. | Hilton Hotels Corporation (NYSE:HLT) announced today that it has sold the 585-suite Pointe Hilton Tapatio Cliffs Resort in Phoenix, Arizona to an affiliate of Highland Hospitality Corporation for approximately $85 million. The hotel will continue to be managed by Hilton Hotels Corporation and operate as a Hilton branded property under the terms of a 20-year management agreement.

"We are pleased with the terms of this deal, which allows us to sell the resort at an attractive price, while having it remain a Hilton through a management agreement," said Dave Sherf, senior vice president, Real Estate/Asset Management, Hilton Hotels Corporation. "We value our continued relationship with Highland Hospitality and are pleased to have them as an owner."

About Hilton Hotels Corporation | Hilton Hotels Corporation (NYSE:HLT) is the leading global hospitality company, with nearly 2,700 hotels and 475,000 rooms in more than 80 countries, with 150,000 team members worldwide. More than 2,300 hotels are owned, managed or franchised in the USA, with a portfolio of some of the best known and 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(TM), Homewood Suites by Hilton(R) and The Waldorf=Astoria Collection(TM). Outside the USA, the company operates 262 hotels branded Hilton, 131 hotels under the mid-market Scandic brand and five all-inclusive resorts under the Coral by Hilton brand. For more information about our company, please visit .

Kathy Shepard
310-205-7676
Hilton