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Hilton Weighs $1B Sale of Scandic

OSLO-Hilton Hotels Corp. may sell its Scandic hotels in a move analysts estimate could raise as much as and euro 939 million ($1.2 billion).

By Anita Howarth | Updated on August 11, 2006

OSLO-Hilton Hotels Corp. is considering the sale of its Scandic brand and is putting 10 European hotels up for sale. Analysts estimate that the sale could raise between euro 782 million ($1 billion) and euro 939 million ($1.2 billion).

The move is part of HHC’s strategy of moving away from hotel ownership into managing and franchising hotels. The Scandic brand, which includes 130 hotels and 23,000 rooms, mainly in Sweden, Norway, Finland and Denmark, was acquired when HHC took over its UK namesake Hilton Group in a euro 4.67-billion ($6-billion) deal in February.

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