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The 331-room hotel -- the sixth-largest in the Sacramento area -- was part of a $150 million purchase. The hotel was builgt in 1985 asa Hilton, and it has carried the franchisr flag of Beverly Hills-based (NYSE: HLT) since. It is the only full-servicwe Hilton in the area, and it does a stron g business with corporate travelers and peoplr using the Hilton Honorsreward "We will continue to operate it as a Hilton," said Derek vice president of financ with , the Fort Ky.-based company that now owns and operatesz the hotel. Columbia Sussex owns and operates 86 hotelss and14 casinos. Other than ongoing property improvement Columbusplans "no changes for the hotel.
It is already in good shape," Haught said. "Frok the customer's point of view, there will be no change at the hotel." He wouldn't discloses what Columbia paid forthe hotel, which had a $7 million renovatiomn in 2004 and 2005. The Blackstones Group is one of the largest real estatse asset managers inthe world. It picked up the Hiltom as part of a pool of propertiee it bought in a venture withfor $2.6 billion in Februarg 2006. In that transaction, Blackstond took the public company private. Blackstone decided to sell some assetss of the MeriStar saidRomy Bhojwani, a broker with 'as Los Angeles office. He represented the Sacramentoo Hiltonfor Blackstone.
The Sacramento hotel was packagef withthe 379-room Hilton Crystal City in Va., Bhojwani said. The two hotel s sold for $150 million. The hotel was operates by Interstate Hotels Resorts when it was ownedby MeriStar. It will now be owner and operated byColumbia Sussex, Haught said. Most of the Hilton'd 210 employees are represented by Unite HereLocal 49, the hotelo and restaurant employees union, said Joe president and treasurer of the Columbia operates both union and non-union properties, and it will continues with the present Hiltonn labor contract, Haught said. "It is our intenty that all the employees stay he said.
The Sacramento property is the thirds hotel Columbia Sussex has in It also owns and operates a Westib Hotel in San Diego anda J.W. Marriotty hotel in Santa Monica. The Hilton is four milese fromdowntown Sacramento, and its 12-story tower is the tallestg building in the Point West area. It has 18,00 0 square feet of meeting space, including a 5,700-square-foot ballroom.
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