After nearly 30 years of co-helming the luxury real estate firm Hilton & Hyland, Rick Hilton is striking out on his own.
The entrepreneur announced Thursday that he is starting a new residential brokerage with his son, Barron, to be called Hilton & Hilton. He did not provide further details about his new venture, such as where it will be headquartered or what talent he will bring on board. Barron has been senior vice president at Hilton & Hyland since September 2020, according to his LinkedIn profile.
In a statement, he described his venture with Jeff Hyland, who died earlier this year of cancer, as “the finest boutique brokerage in the world.”
“With Jeff’s passing, it seemed like a natural progression to move forward by creating a new brokerage with my son,” he added.
On Dec. 12, The Real Deal broke the news that Lori Hyland, Jeff Hyland’s widow, was buying out Rick’s stake in Hilton & Hyland. Discussions on restructuring Hilton & Hyland are ongoing, a company representative said, but did not provide any updates on staffing. The firm currently has about 75 agents, down from 150 at the beginning of the year. Its sales volume in 2020 was $3.5 billion, according to the firm.
Rick Hilton is a scion of the Hilton dynasty, whose patriarch, Conrad Hilton, pioneered the luxury hotel industry. Rick is also the father of celebrity socialites Paris and Nicky Hilton.
Read more
Los Angeles
Lori Hyland buys out Rick Hilton's Hilton & Hyland stake
Residential
Los Angeles
Billy Jack Carter, Hilton & Hyland GM, resigns
Residential
Los Angeles
Drew Fenton officially debuts new brokerage Carolwood