Hilton Worldwide Holdings Inc. is negotiating the possible purchase of four properties on the East and West coasts of America from Blackstone Group LP among others, two people with knowledge of the matter said.
The properties in question are the Parc 55 Wyndham in San Francisco, two Waldorf Astoria resorts in Key West and a third in Orlando, according to the people. The hotel chain may be willing to pay as much as $550 million for the San Francisco property, which has over 1,000 rooms, one of the people said.
The move comes as Hilton seeks to defer tax payments resulting from the sale of the Waldorf Astoria hotel in New York.
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