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.