The Hindu Business Line : Hilton Hotels, DLF join hands

Hilton Hotels Corporation has announced that it would create a joint venture company here with DLF Ltd (DLF) to develop and own 75 hotels and service apartments over the next seven years.

The initial stage of the joint venture will see 20 hotels coming up across the country including Chandigarh, Chennai and Kolkata.

In a statement the company has said that a large number of these hotels are expected to be Hilton Garden Inns, which is a business hotel brand.

DLF will hold a 74 per cent stake in the joint venture company with Hilton holding a minority stake. Over the next five-to-seven years Hilton plans to invest $143 million in the JV company, before consideration of debt.

The company has said that the JV-owned hotels will represent several brands including Hilton, Hilton Garden Inn, Homewood Suites by Hilton and Hilton Residences. The JV company will develop and build these properties while Hilton will manage them.

At present through its alliance with East India Hotels, Hilton Hotels Corporation has nine existing franchised hotels here under the Trident and Hilton brands. Besides, another hotel is currently being developed by EIH and will be franchised as a Trident Hilton. These properties are managed by EIH while Hilton is responsible for international marketing, promotion and reservations through its global network.

More Stories on : Alliances & Joint Ventures | Strategy | Hotels

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