Friday, October 09, 2009

Hilton suffers W-shaped recovery

Hilton, like the rest of the hotel industry, is struggling with declining room rates and revenue. The company also labors under a $20 billion debt load from Blackstone's 2007 buyout.

A federal grand jury is investigating whether Hilton Worldwide and several of its former executives should face criminal charges for allegedly stealing tens of thousands of pages of confidential documents from rival Starwood Hotels & Resorts, according to people familiar with the situation.

The grand jury is part of a six-month-old Justice Department probe into allegations that Hilton, which is owned by private-equity firm Blackstone Group, used trade secrets taken by former Starwood executives, who defected to Hilton last year, to develop its own luxury brand to compete with Starwood's successful W chain.
Hotel Feud Prompts Grand Jury Into Probe

Guambat has mentioned before that many of his posts are simply done to write better headlines for stories he reads.

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2 Comments:

Anonymous little john said...

*chortle*

nice one

14 October 2009 at 1:27:00 pm GMT+10  
Blogger Guambat Stew said...

Ta, Guambat needed that.

18 October 2009 at 8:33:00 am GMT+10  

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