Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Businessweek Archives

Hilton Hotels Packs Its Bags


It’s a fact of life in corporate relocations, company headquarters are based on one critical element—where does the ceo want to live? Oh, sure companies will hire consultants to analyze costs of doing business, tax incentives, etc. etc. But at the end of the day…

Hilton Hotels announced it’s relocating from Los Angeles to the Washington, D.C. area. This is a company that’s founding family—Conrad, Barron, Paris—is practically synonymous with the Beverly Hills lifestyle.

But the Hiltons sold their stake in a 2007 leveraged buyout. New CEO Chris Nassetta told the Washington Post that the company was making the move to take advantage of the lower costs, proximity to key markets such as London and the huge pool of talent around Washington.

I’m not buying it. Nassetta is a veteran of Marriott, based in suburban Maryland. The D.C. area is hardly a low cost real estate market. And Nassetta himself has said much of the company’s future growth will have to come from Asia, which is more accessible from the West Coast. Hilton had major layoffs after the buyout. Is Nassetta really now having trouble luring talent to that hell hole Beverly Hills?


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus