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GUAM- The 687-room Hilton Guam Resort & Spa has been acquired for just under $30 million by an entity of New York-based investment advisor Rockpoint Group. Da Vinci-RP Hotel Investors plans an extensive renovation of the resort to begin in 2005.Public records show Rockpoint put up $4.25 million in cash and financed the remainder, about $25 million, through Japan’s Aozora Bank Ltd, which is backed by U.S.-based Cerberus Capital. The San Francisco and Tokyo offices of Sonnenblick-Goldman Company arranged the acquisition financing. Robert Stiles, San Francisco-based managing director and principal of Sonnenblick-Goldman, tells GlobeSt.com that the sale has been in negotiation for most of the year and during that time visitor arrivals to Guam have shown 20% year-over-year growth. “It’s partially a timing play,” says Stiles. Opened in 1972, the Hilton Guam Resort & Spa is situated on 32 acres of prime beachfront property at the southern end of reef-protected Tumon Bay. The hotel has the second largest guestroom count in the Guam market and is the largest beachfront fee-simple site on the island. The property will continue to be known as The Hilton Guam Resort & Spa and will continue to be managed by Hilton International.Of the 80 Hilton hotels in the Asia-Pacific region, Hilton Guam was one of only two Hilton hotels in the Asia-Pacific region owned by Hilton International. The other is in Sydney. Renovation of Hilton Guam is expected to begin early next year and be complete in mid 2006. One piece of the improvements will include the revival of the Genji Restaurant and the 100-room Magahaga Spa wing, both of which were closed because of damage from Supertyphoon Pongsona in 2002.

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