Word: hiltonization
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Stephen Bollenbach, the high-flying CEO of Hilton Hotels Corp., is strictly a bird of his word. Bollenbach told TIME last summer that he was looking to make significant additions to Hilton's hotel holdings. Last week he found what he was looking for--more than 130,000 rooms. Those lodgings happen to do business under the banner of Sheraton, which happens to be owned by ITT Corp. and run by Rand Araskog, a man not keen on having his corporate masterwork painted over. That's why Hilton's $55-a-share, $6.5 billion offer for ITT, whose holdings also...
Bollenbach, 54, is one of the sharpest pencils in corporate America, a veteran hotelier who joined Hilton last year after a stint at Walt Disney Co., where he helped engineer the Mouse's $19 billion buyout of Capital Cities/ABC. Araskog, 65, has lots of starch in his sheets. A West Pointer who once served in the National Security Agency, he has a perfect record in fending off corporate raiders...
When Bollenbach fled the executive loony bin at Disney for Hilton last year, he quickly developed a new strategy for the well-known but mediocre company. In lodging, he wanted to expand Hilton's traditional presence in the full-service-hotel sector in the U.S. and abroad. In gaming, he saw Hilton as a buyer in an industry that was consolidating. To finance acquisitions, he would take advantage of low interest rates and Hilton's strong balance sheet...
...this promising play on special teams and at even strength comes as Harvard is playing without the scoring touch of Henry Hilton, the team's leading returning scorer, as well as the size of Ethan Philpott...
FLOYD SPENCE (R) District 2 (Central and south--Columbia suburbs; Hilton Head...