“Through November [2002], we believed that discretionary consumer spending growth of 3 percent was adequate to support increased gaming spending. Room availability in Las Vegas during New Year's, however, indicates retrenching demand and what we believe to be an increasingly cautious consumer.”
“We believe this transaction in the long run is great for shareholders because it gives Hilton a true international presence. There will be less consumer confusion and it will help build Hilton's global loyalty program and enhance their international development opportunities.”
