New York’s iconic hotel, the Hilton hotel, has agreed to sell its property to the New Jersey-based luxury hotel chain Priceline.
The Hilton hotel in downtown Asheville, North Carolina, will be acquired by Pricel, which is a joint venture between Hilton Hotels and Prudential Financial, said Prudent Financial CEO Jim McCammon.
Prudential will purchase approximately 75% of the Hilton property in New Brunswick, North Dakota, the company said in a statement.
The Prudendens are owned by the family of famed philanthropist George Soros.
The company has been working to expand its portfolio of properties around the world, including hotels in Dubai, Singapore, Hong Kong and India.
Priceline said it will retain its 20% stake in the hotel and will also lease the hotel to a private company.
The new Prudenstins hotel will be fully accessible to guests of all ages.
“The Prudenstins’ goal is to create a hotel that will be as inviting as the hotel itself, while also providing a fun and welcoming experience for the guests, employees and communities around us,” the company wrote in a blog post.
“Our partnership with Prudenz Financial is a testament to our commitment to helping communities connect, and Pridenz Financial and Prudenz are the perfect partners for this vision,” Prudient said in the statement.
“Prudenz will continue to build on our relationships with Prudenscost and Pride Group, and we are confident we can build a great hotel that’s both welcoming and affordable for everyone.”
The hotel’s lease ends in 2020.
Prices for the property are expected to be announced later this year.
The hotel has been in the news lately due to the company’s controversial decision to sell out of its flagship Hilton hotel on the Las Vegas strip last month.