Hilton Hotels Corp. is set to expand its entity outside the US. Hotel mogul has signed deals with three real-estate groups to develop more than 55 properties in Russia, Britain and parts of Central America.
The new Hilton’s plan to expand on the international fortress will cost approximately at $1.7 billion and accelerate its drive to franchise new hotels and planned to be completed by 2012.
Alluring with the increasing tourism in the countries like China, India and Russia Hilton group last year announced to develop more than 100 new luxury hotels on the different venues.
President and Chief Operating Officer of Hilton hotel, Matthew Hart, has quoted that the latest ventures underscore Hilton’s determination to pick partners with deep pockets and a strong track record of local development and company is very enthusiastic to complete these new venture as early as possible.
Hilton hotel is in a hurry to share its experience of luxury with the millions of people all over the world. Hotel giant signed deals with companies, who are well known and well established in their business arena. In Russia, Hilton linked up with a long-standing partner, closely held London & Regional Properties Ltd. that already owns marquee hotels in London and Frankfurt.
Hilton not only eyes to expand in Moscow and St. Petersburg, but to foray into the properties in large regional centers, where tourists find few luxury hotels.
In Britain and Ireland, hotel giant tie up with Shiva Hotels Ltd. On the Caribbean soil, hotel luxury brand forge an agreement with Caribbean Property Group, based in New York, to concentrate projects initially in population centers in Puerto Rico, Costa Rica, Panama, the Dominican Republic and Trinidad.
Image: Excelloz
Via: Reuters
