Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Managed services provider Aramark has agreed to purchase the Harrison Conference Centers portfolio from Hilton Hotels Corp. for $55 million in an all-cash transaction. The deal includes two owned, two leased and 10 managed assets.

Philadelphia-based Aramark will pick up 14 conference centers and university hotels in the deal. Included in the transaction are Harrison Conference Center at Glen Cove, NY; Harrison Conference Center at Lake Bluff, IL; Inn at Harvard Square; Harvard Square Hotel; Bell Atlantic Learning Center and Center for Executive Education at Babson College, in Massachusetts; Roanoke Hotel and the Roanoke Conference Center in Virginia; Merrill Lynch Conference & Training Center in New Jersey; University Place Conference Center & Hotel in Indianapolis; Inn at the Colonnade in Maryland; R. David Thomas Center at Duke University; Carolina Inn and Paul J. Rizzo Center in North Carolina.

“The acquisition supports our overall strategy of building and expanding relationships with our existing clients,” continued Aramark chairman and CEO Joseph Neubauer, adding that the deal “creates an ideal combination of their leadership and innovation with our existing management team.”

Beverly Hills-based Hilton acquired Harrison Conference Centers as part of its November 1999 acquisition of Promus Hotel Corp. Closing of the transaction, which is subject to customary closing conditions, is expected to be completed by the end of the second quarter of this calendar year.

ARAMARK operates nearly 60 conference centers and university hotels in North America and Europe and an additional 48 conference centers in Japan, via the company’s joint venture there. In the United States, ARAMARK conference centers include the Procter & Gamble Learning Center in Cincinnati, Ohio; the United States Postal Service’s W.F. Bolger Center for Leadership Development in Potomac, Md.; and the Steinberg Conference Center at the University of Pennsylvania’s Wharton School, in Philadelphia, Pa. Internationally, ARAMARK conference centers include the German Foundation for International Development in Germany and the Canon Seminar House in Japan.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.