Hilton Sells Harrison Conference Ctr. Chain To Aramark

Hilton Hotels Corp. today agreed to sell the Harrison Conference Center chain to services management chain Aramark for $55 million in cash. The deal includes 14 conference centers--two of which Harrison owned, two it leases and 10 it manages--as well as the Harrison name.

Hilton will retain five Harrison-managed properties. The deal is expected to close by the end of the second quarter. "Harrison is a proven leader with a portfolio of some of the most prestigious properties in the country," said Aramark CEO Joseph Neubauer. "The acquisition creates an ideal combination of their leadership with our existing management team." Aramark operates about 60 conference centers in North America and Europe. Hilton acquired Harrison as part of its acquisition of Promus Hotel Corp. in November 1999.