OTHER NEWS - May 6, 1992
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Fortuna Acquires Airport Hilton: Hilton Hotels Corp. said Fortuna Enterprises of Taiwan has acquired the Los Angeles Airport Hilton & Towers from Security Pacific Bank’s Algonquin Investment Co. subsidiary. Terms were not disclosed, but sources close to the deal said the price for the 1,279-room hotel exceeded $50 million. Hilton said it will continue to manage the property. Fortuna plans a $20-million renovation of the hotel, Hilton said. Work will begin immediately and is to be completed in late summer 1993.
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