Cutting costs.Hilton Hotels
tr.v. un·der·whelmed, un·der·whelm·ing, un·der·whelms To fail to excite, stimulate, or impress: earnings earlier this month, but nonetheless received a bounce 1. bounce - (Perhaps by analogy to a bouncing check) An electronic mail message that is undeliverable and returns an error notification (a "bounce message") to the sender is said to "bounce". 2. bounce - To play volleyball. The now-demolished D. C. in stock price because of upbeat expectations for the rest of the year. Hilton sold 24 fitness clubs to U.K.-based Bannatyne Fitness Ltd. The stand-alone clubs went for $172 million, which the company will use to reduce debt. Hilton is keeping 51 clubs in 44 British hotels, seven clubs outside the U.K., and 41 Express clubs in Hilton hotels worldwide. The company also announced the intention to shed more assets. Hilton expects the sale of three LivingWell Premier clubs in Australia to Fitness First Australia Pty Ltd PTY LTD Propriety Limited (company structure in Australia) . to close by the end of the month. The company also said it may sell all or part of its Scandic scan·di·um n. Symbol Sc A silvery-white metallic element found in various rare minerals and separated as a byproduct in the processing of certain uranium ores. brand of hotels, which could be worth as much as $1 billion. Hilton acquired Scandic less than six months ago as part of a $6 billion purchase of Hilton Group PLC in February. The company also announced its Hilton International unit expects to list 10 separate hotels in Europe for sale by the end of September. Wall Street investors may have used up all of their enthusiasm, however. Hilton stock dropped from $25.50 to $23.50 between Monday and Thursday. BY EMILY BRYSON YORK Staff Reporter |
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