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Hilton International sets conditions for possible sale

Horeca

London-based Hilton International remains in preliminary talks to possibly sell the Hilton Guam Resort & Spa, Manfred Pieper, the hotel’s general manager, said yesterday.

But Pieper said Hilton International will sell its Guam property only for the right price and to the right buyer. He said he could not publicly say the Hilton Guam’s price range and with whom the international hotel chain is negotiating with.

And Hilton International will sell the property only to a buyer who will keep the Hilton brand, plans to invest on significant improvements to the property and let Hilton manage the hotel, Pieper said.

An entire Hilton Guam wing, made up of about 100 rooms, awaits renovations after the rooms were damaged by Supertyphoon Pongsona more than a year ago, he said. Pieper said Hilton International is contemplating selling the Guam hotel because most of the chain’s global business involves managing hotels — not running it.

Only the Guam Hilton and a Hilton in Sydney are owned by Hilton International, the rest of the 80 Hilton hotels in the Asia-Pacific region are managed by Hilton but are owned by others, Pieper said. The possible sale of Hilton Guam is part of a business alignment and should not be perceived as a signal of a lack of confidence in the future of Guam’s economy, Pieper said.

‘People should not see this as a sign of wanting to exit Guam’, he said. He said Hilton International also is not under time pressure to sell the Guam Hilton because the property does not owe any mortgage-related loans.

Last month, a real estate consulting firm, The Captain Company, confirmed that an international investor was at the early stages of talks to possibly purchase the Hilton Guam. Nicholas Captain, president of The Captain Company, said at the time that 14 acres of excess Hilton Guam land also were being considered for purchase by the prospective buyer.

Captain said he’s been sworn to secrecy on the price and name of the prospective buyer.

But Pieper said Hilton International will sell its Guam property only for the right price and to the right buyer. He said he could not publicly say the Hilton Guam’s price range and with whom the international hotel chain is negotiating with.

And Hilton International will sell the property only to a buyer who will keep the Hilton brand, plans to invest on significant improvements to the property and let Hilton manage the hotel, Pieper said.

An entire Hilton Guam wing, made up of about 100 rooms, awaits renovations after the rooms were damaged by Supertyphoon Pongsona more than a year ago, he said. Pieper said Hilton International is contemplating selling the Guam hotel because most of the chain’s global business involves managing hotels — not running it.

Only the Guam Hilton and a Hilton in Sydney are owned by Hilton International, the rest of the 80 Hilton hotels in the Asia-Pacific region are managed by Hilton but are owned by others, Pieper said. The possible sale of Hilton Guam is part of a business alignment and should not be perceived as a signal of a lack of confidence in the future of Guam’s economy, Pieper said.

‘People should not see this as a sign of wanting to exit Guam’, he said. He said Hilton International also is not under time pressure to sell the Guam Hilton because the property does not owe any mortgage-related loans.

Last month, a real estate consulting firm, The Captain Company, confirmed that an international investor was at the early stages of talks to possibly purchase the Hilton Guam. Nicholas Captain, president of The Captain Company, said at the time that 14 acres of excess Hilton Guam land also were being considered for purchase by the prospective buyer.

Captain said he’s been sworn to secrecy on the price and name of the prospective buyer.

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