US based hotel chain, Hilton Hotels Corp., has reached franchise agreements to establish over 50 hotel properties in Russia, Central America and Britain. Hilton Hotels Corp. has partnered with London & Regional Properties Inc. to develop hotels in Russia, as well as partnering with Caribbean Property Group to build hotels in Puerto Rico, Costa Rica, Panama, the Dominican Republic and Trinidad. Additionally the hotel chain has made an agreement with Shiva Hotels Ltd to expand in Britain and Ireland.
'HHC does have agreements in place to form alliances for development in the three markets outlined, which is expected to result in around 55 hotels in total,' says Linda Bain, Vice President of International Communications for Hilton Hotel Corp.
Bain adds: 'The move is part of an effort to extend Hilton's international presence through management contracts and franchises with established real estate development firms, allowing Hilton to remain 'asset light'.
'These deals indicate momentum in our strategy to grow substantially internationally. Since the acquisition of the Hilton International, we have increased our development teams around the world - people as well as our development resources - offices.
'This is resulting in a great deal of interest from property owners and developers, such as those involved in the Russian, UK and Central American deals.'
Published: 22 June 2007
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