Hotel Online  Special Report

Stanford Hotels Corporation Acquires the Hilton Charlotte
for $56 million; Hilton Brand to be Retained; 
Significant Investment Planned


CHARLOTTE, N.C. - June 28, 2005 -- Hilton Hotels Corporation (NYSE:HLT) announced today that San Francisco based Stanford Hotels Corporation has purchased the Hilton Charlotte in North Carolina for $56 million.

Stanford officials said they plan to continue operations under the Hilton brand and retain the current team members. In addition, Stanford said it plans to invest $6-$8 million in renovations.

"We are pleased to have completed this transaction with Stanford Hotels. Hilton has enjoyed a long and productive business relationship with Lawrence Lui and his outstanding management team at Stanford Hotels and we are pleased that the company now owns six hotels 

Hilton Charlotte Center City
222 East Third Street
Charlotte, North Carolina
operating within the Hilton Family of Hotels," said Robert M. La Forgia, senior vice president and chief financial officer, Hilton Hotels Corporation.

"Stanford is buying a great hotel, with great team members, in a great community," said Clyde Guinn, Stanford senior vice president of operations and a former Charlotte resident. "The hotel has done well in a challenging economic environment and now, improvement is the great opportunity."

Guinn said Stanford's plans for property improvement will span the next two years, and will include renovations of guest rooms as well as the restaurant and lounge. He added that the immediate focus for Hilton and Stanford is to ensure a seamless transition for customers and team members.

Stanford Hotels is a mid-size owner-operated company that specializes in the development and management of high quality, full service hotels. Stanford's 18 properties with 4,500 guest rooms span six time zones and comprise seven top global brands, including Marriott, Sheraton, Hilton, Holiday Inn and Radisson. Stanford recently was awarded Developer of the Year for the Hilton Hotels brand.

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).


Hilton Hotels Corporation

Also See: Stanford Hotels Corp. Breaks Ground on $31 million Expansion of the Hilton Washington Dulles Airport / Aug 2004
Hilton Hotels Corporation Recognizes 2004 Development Awards; Lawrence Lui, Stanford Hotels Corporation Named Developer Of The Year for Hilton Hotels & Resorts Brand / May 2005

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