Hilton Directors Discuss Future of Lodging Firm

Following inconclusive meetings Tuesday, the directors of Hilton Hotels Corp. were scheduled to meet again today in Beverly Hills to discuss alternatives for the future of the venerable lodging company.

The directors are said to be discussing several strategies, including a possible restructuring that would not involve a sale. Several firms have reportedly expressed an interest in buying Hilton, including JMB Realty in Chicago and a group led by Los Angeles investor Marvin Davis.

Meanwhile, the company’s stock continued its long descent Tuesday, closing at $57.75 per share Tuesday, down $2.25 in New York Stock Exchange trading. It had hit a 52-week high of $115.50 last August, but the stock has been in a general decline ever since.

Hilton officially placed itself on the auction block last August. It owns two casino hotels in Las Vegas and one in Reno and owns, leases or manages others.

Two similar hotel companies, Ramada and Holiday Corp., have undergone major reorganizations in recent months by splitting their hotel and casino businesses into separate firms.

HILTON STOCK SLIPS. Tuesday close: $57.75, down $2.25.