Hilton pays for remaining of Resort on Hawaii`s Big Island

Hilton Hotels said it will purchase the outstanding 87% interest in the 562-
acre, 1,241-room Hilton Waikoloa Village on Hawaii`s Big Island for $155
million. Hilton, which manages the property, already owned a 13% stake in the

The deal includes about $75 million in cash and 5.2 million shares of
Hilton common stock. Closing is expected to occur during second-quarter 2002.
The purchase by Hilton “confirms Hilton`s commitment to Waikoloa Beach Resort
and its confidence in the Kohala Coast`s future,” said Thos Rohr, president of
Waikoloa Land Co., which owns the land under the Hilton.