Hilton Selling Harrison Conference Centers To Aramark

BEVERLY HILLS, CA— Hilton Hotels Corp. said it has agreed to sell its Harrison Conference Center and University Hotel chain to Aramark for approximately $55 million in cash. The transaction includes two owned, two leased and 10 managed assets. The transaction is expected to be completed by the end of the second quarter 2002. Included in the transaction are 14 Harrison Conference Center facilities: Harrison Conference Center at Glen Cove, NY; Harrison Conference Center at Lake Bluff, IL; Inn at Harvard Square; Harvard Square Hotel; Bell Atlantic Learning Center and Center for Executive Education at Babson College, in Massachusetts; Roanoke Hotel and the Roanoke Conference Center in Virginia; Merrill Lynch Conference & Training Center in New Jersey; University Place Conference Center & Hotel in Indianapolis; Inn at the Colonnade in Maryland; R. David Thomas Center at Duke University; Carolina Inn and Paul J. Rizzo Center in North Carolina. The transaction excludes five properties currently operated under Harrison Conference Centers: The Hilton DFW Lakes Hotel & Conference Center in Dallas; Inn at Penn in Philadelphia; University Park at MIT in Cambridge, MA; University of Florida Hotel & Conference Center in Gainesville and The Conference Center at Dodgertown in Florida. Hilton will continue to operate these five properties within the Hilton “Family of Brands.” Hilton acquired Harrison Conference Centers as part of its November 1999 acquisition of Promus Hotel Corporation.