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Hilton Expands in Development Alliances

BEVERLY HILLS, CA-The company will form three development alliances to introduce more than 55 new hotels in the Caribbean, Central America, Russia and the UK.

By Bob Howard and Maria Wood | Updated on June 04, 2007

BEVERLY HILLS, CA-Hilton Hotels Corp. plans to form three development alliances to introduce more than 15 new hotels in the Caribbean and Central America, 25 in Russia and at least 15 in the UK over the next five years. The company has agreed to work with New York-based Caribbean Property Group for development within Central America and the Caribbean; London & Regional Properties Limited in Russia and Shiva Hotels Ltd. in the UK and Ireland.

These alliances are part of a strategy that Hilton has outlined to sign large deals with major investors to reach its goal of at least 1,000 hotels outside of North America over the next 10 years, according to Matthew J. Hart, president and chief operating officer of Hilton. The Beverly Hills-based chain is already doing business with Caribbean Property Group, which recently signed management agreements with Hilton for two existing full-service hotels in Costa Rica that are owned by a joint venture in which CPG holds an 85% interest.

The CPG hotels in Costa Rica, which are undergoing major renovations, will be rebranded and reopened in the first quarter of 2008 as the Hilton Papagayo and the Doubletree by Hilton Puntarenas, in Guanacaste and Puntarenas, respectively. Initially, other targeted markets in the deal that was announced today include major cities and destinations in Puerto Rico, Costa Rica, Panama, the Dominican Republic and Trinidad.

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