finance.yahoo.com

CPP Investments to Buy 49.5% Stake in Two Hilton Hotels in Brazil

Hilton Worldwide logoHilton Worldwide
Sig2.44Sen+5.60Env0.00Soc0.00Gov+1.45

CPP Investments plans to invest about C$200m to acquire a 49.5% interest in two Hilton-branded hotels in Brazil through a joint venture with HSI. The JV covers Hilton Copacabana in Rio de Janeiro and Hilton Morumbi in São Paulo, both mid-renovation. The deal expands CPP Investments’ exposure to Brazil’s hospitality market and formalizes its local partnership with HSI.

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