Daily Archives: 11/18/2004

Quote Of The Day

“As democracy is perfected, the office of president represents, more and more closely, the inner soul of the people. On some great and glorious day the plain folks of the land will reach their heart’s desire at last and the White House will be adorned by a downright moron.” — H. L. Mencken

Hilton Guam sold for $30M

Title says it all. The Hilton on Guam sold to DaVinci-RP Hotel Investors LLC for $30 million. Speculation at lunch centered around how the Hilton was pushing hard for Prop A this past election, and that the sale price of the hotel was contingent upon whether the gambling iniative passed or not.

Hilton International will continue to manage the hotel under an agreement with the new owners. This is a trend for other hotels on island, including the Marriott. Expect other major hotels chains to divest their properties and continue to manage operations on Guam.