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PASADENA, CA-A joint venture of the Carlyle Group and Wilton Hill, president of Davidson Hotel Co., has acquired the 296-room, 14-story Hilton Pasadena from the Shidler Group of San Diego. Terms of the sale were not disclosed, but industry sources believe the new owners paid $38 million for the property.Memphis-based Davidson will manage the hotel, which will be operated under a franchise license agreement with Hilton Hotels Corp. The new owners plan a $4.5-million renovation during the next 12 months, including enhancements and upgrades in guest-rooms, the hotel exterior, the lobby, meeting rooms, and the hotel’s dining facilities.The Hilton Pasadena is two blocks from Old Town Pasadena, across the street from the Pasadena Convention Center and two miles from the Rose Bowl. It features a business center, a fitness center, heated outdoor pool with whirlpool, bar, restaurant, and 27,000 sf of event space. The Carlyle Group is a global private equity firm with more than $18 billion under management. Carlyle’s three US real estate funds, which focus on commercial real estate in major US cities, have more than $1.3 billion in assets under management. Davidson Hotel Co. provides management, development, consulting and accounting expertise for the hospitality industry. It manages 22 hotels comprising 6,000 rooms across the US under such flags as Marriott, Renaissance, Hilton, Radisson and Holiday Inn. Davidson is also a hotel developer, having developed 20 hotels comprising more than 2,500 rooms. It has also planned and completed major renovations at 20 hotels containing more than 5,000 rooms.

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