Page 21 - Stakis C Case Study

advantage of a unique period in the amalgamation of the
two companies," he said.

The portfolio Hilton is seeking to create will also offer the
best opportunities for future development and profit, Mr.

Harris added.

The period of sale for the hotels is likely to have been
finalised by the end of the year and any which have not

been sold will be re-integrated into the portfolio with

necessary investment made. While the hotels remain on

the market, Hilton is committed to working to ensure
they remain successful and profitable.

Notes to editors:

1. On 26 March 1999, Ladbroke announced that its

recommended offer for Stakis plc was declared

wholly unconditional. Over the coming months
Ladbroke will be working to align the Hilton and

Stakis operations in the UK.

2. The combined portfolio of Hilton and Stakis hotels

in the UK and Ireland is 92 hotels with a total of
16,310 bedrooms.

3. Hilton UK managing director Anthony Harris was

formerly managing director of Stakis Hotels.
4. Ladbroke Group PLC is seeking shareholder

consent at its AGM on 14 May 1999 to change its

name to Hilton Group plc.

Thursday 6 May 1999