Hilton Could Lose Management Deals for Three Luxury Resorts

The Arizona Biltmore, Maui’s Grand Wailea and California’s Claremont Hotel and La Quinta Resort & Club all may be sold, as a group that seized the hotels in a foreclosure auction looks to get the properties out of bankruptcy, Bloomberg News reported.

The Arizona Biltmore, Grand Wailea and La Quinta are all managed by Hilton Worldwide under the Waldorf Astoria brand. The owners are looking to oust Hilton from those management contracts, Bloomberg said, citing bankruptcy filings.

Owners Paulson & Co. and Winthrop Realty Trust put the Arizona Biltmore and the Claremont on the market, while the Grand Wailea and La Quinta may also be put up for sale, said Winthrop CEO Michael Ashner in the Bloomberg report.

The asking price for the 738-room Arizona Biltmore is $425 million, while the owners are looking to fetch at least $80 million for the 279-room Claremont, Bloomberg reported.

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