Following a wave of defections to a burgeoning rival, the venerable Beverly Hills real estate brokerage of Hilton & Hyland has new ownership, with co-founder and chairman Rick Hilton and his son, Barron Hilton, exiting the company.
In a formal announcement, Hilton & Hyland revealed that Lori Hyland is taking 100 percent ownership of the firm. A fine artist, she is the wife of the late Jeff Hyland, who co-founded Hilton & Hyland in 1993 with Rick Hilton. Jeff Hyland — also an architectural historian who authored the book Legendary Estates of Beverly Hills — died in February from cancer.
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Hilton & Hyland’s name will remain unchanged, while Rick and Barron Hilton are leaving to form a new brokerage, Hilton & Hilton.
“Beverly Hills is the only inlet city of the major luxury markets, yet, people come from all over the globe to build legendary estates here and add to its extensive history. It is such an honor to be centered in this treasured community, and I am deeply excited for what’s ahead as Hilton & Hyland continues to serve it,” said Lori Hyland in a statement, adding, “Rick [Hilton] will be greatly regarded as Hilton & Hyland’s co-founder who joined Jeff 30 years ago to create our masterpiece of an agency. Hilton & Hyland has a sterling reputation on the world stage and will continue to represent its unique and legendary estates.”
Hilton & Hyland said that it did $4 billion in sales in 2021. Earlier this year, its agent Stuart Vetterick co-represented Fashion Nova CEO Richard Saghian in his $141 million purchase of The One megamansion in Bel Air, while the brokerage’s David Kramer recently represented Formula 1 heiress Petra Ecclestone in the sale of a $37 million Brentwood home to Los Angeles Laker Russell Westbrook. The firm has also announced that its former EVP and general manager Billy Jack Carter has returned to Hilton & Hyland to serve as its CEO and broker of record.
This year, nearly three dozen agents (including such marquee names as Linda May, Brett Lawyer and Jonah Wilson) exited Hilton & Hyland to join Carolwood, a new L.A. luxury real estate brokerage co-founded by agents Drew Fenton and Nick Segal and former Hilton & Hyland marketing chief Ed Leyson.
Reached by email, Rick Hilton — whose family includes wife Kathy Hilton (who guest stars on Real Housewives of Beverly Hills) and daughters Paris and Nicky Hilton — said that he was not available for comment, but that he would have more details to share next year about his new company. Earlier, he said in a statement, “I entered the real estate business over 30 ago. During those three decades, along with my partner, Jeff Hyland, we created and built ‘Hilton & Hyland.’ Together, we turned our company into 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, Barron.”
