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Hilton Sells 600-Room Alaska Property for $65M

ANCHORAGE-The new owner, not disclosed by Hilton, is Columbia Sussex Corp. of Kentucky, owner of the Anchorage Marriott Downtown.

By Brian K. Miller | Updated on December 30, 2005

ANCHORAGE-Hilton Hotels Corp. has sold the 600-room Anchorage Hilton to Columbia Sussex Corp. of Kentucky for $65 million. Columbia Sussex, which owns 80 hotels nationwide including the Anchorage Marriott Downtown, will keep the Hilton flag under a 20-year franchise agreement and spend another $12 million in capital improvements to the property, according to Hilton.

Hilton did not identify the buyer beyond the name CP Anchorage Hotel 2 LLC and an executive at Columbia Sussex could not be reached Friday morning for confirmation. However, the CP is known to stand for Columbia Properties, which is the name under which Columbia Sussex owns the Marriott property, it’s only other hotel in Anchorage. In addition, local published reports have cited liquor licenses transfer documents that also point to Columbia Sussex.

Seattle-based hotel consultant Michael Mohn of Kennedy, & Mohn tells GlobeSt.com that his understanding is that Hilton bought the property in the middle 1990s for $67 million. The property was listed this summer by the Placentia Group of Tampa, FL, for $70 million.

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