Private-equity buyouts in the hotel industry: Hilton's sale of Scandic to EQT
Private-equity groups have become powerful new owners of hotel properties as major international hotel chains continue to sell-off properties. In March 2007 Hilton Hotel Corp. sold off the 132-hotel Scandic Hotel chain (the largest hotel operator in the Nordic region) to a Swedish private-equity group, EQT, for US$1.1 billion.
More on the sale of Scandic Hotel chain to EQT:
'Hilton deal puts focus on core brands,' Hotel & Motel Management, (2 April 2007)
Oliver Staley and Niklas Magnusson, ‘Hilton sells Scandic to EQT of Sweden’ (5 March 2007).
Hilton selling Scandic to EQT for $1.1 billion, Reuters (2 March 2007).