Posted on 14 February 2011
Hilton to unveil $1 bln drive in UK, Turkey
According to the Financial Times on Sunday, Hilton Hotels Corporation will unveil two new developments this week. Hampton Inn, a budget inn business owned by Hilton, will open 30 more hotels in Britain and 25 new mid-market Hilton Garden Inns in Turkey. The total cost of the projects is estimated at $1 billion.
Hilton has agreed to a management deal with HLH, a property company specializing in the hotel sector, to open the UK sites. HLH will build and own the properties and Hilton will operate them. The new hotels, with a total of 4,000 rooms, are expected to open within five years.
A similar partnership will operate in Turkey; developer Kosifler Group will finance the new hotels and Hilton will run them. Turkey, Britan, Ireland, Spain, Italy, Russia, China and India are regarded as key expansion markets for Hilton. A report by TRI Hospitality Consulting says the hotel sector is forecast to grow by 60 percent by 2017.
Source: Todays Zaman 12th June 08