DEAL WILL MEAN JOBS LOCALLY.Byline: Jason Takenouchi Staff Writer Hilton Hotels
Jack Kyser, chief economist The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis. It is distinguished from the other economist positions by the broader scope of responsibility encompassing the with the nonprofit Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Economic Development Corp., said the merger will add to the area economy when Hilton moves operations from Memphis-based Promus to Beverly Hills Beverly Hills, city (1990 pop. 31,971), Los Angeles co., S Calif., completely surrounded by the city of Los Angeles; inc. 1914. The largely residential city is home to many motion-picture and television personalities. . ``The ripple impact will be significant,'' Kyser said. ``The bottom line is there will be a positive employment impact for Los Angeles County overall.'' And Kyser said that by purchasing Promus, Hilton will strengthen its position in a rapidly consolidating industry. ``By bulking up, they'll be a survivor,'' he said. Because the companies' properties generally cater to different markets, analysts say the merger will probably have little effect on the area's hotel industry. ``With a merger there's always some rebranding, but I don't see an awful lot'' in the Los Angeles area, said Bruce Baltin, senior vice president with PKF PKF Peace Keeping Force PKF Pannell Kerr Foster (accounting firm) PKF Park Falls, Wisconsin (Airport Code) Consulting in Los Angeles. ``They have fairly complementary types of business products.'' |
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