Hilton Set to Sell Several Assets

Hilton Hotels Corp. will probably sell eleven properties by the end of this year, and will likely use the proceeds to buy back shares, a Deutsche Bank analyst said earlier this week.

Hilton is expected to announce the sale of its Palmer House property in Chicago and 10 other owned hotels this year, in deals that could fetch the company between $500 million to $800 million. The hotel chains has no plans so far to put properties in Latin America or the Caribbean o the market.

Other than Palmer House, Falcone predicts that several smaller Hilton Hotels will be sold in the near term, including three Hilton Suites properties and one or more Embassy Suites, Homewood Suites, and Doubletree Hotels properties.