The UK's Hilton Group and US-based Hilton Hotels Corporation have announced the formation of a joint venture company to expand their Conrad brand of luxury hotels on a global basis.
Owned by Hilton Group and Hilton Hotels Corporation, this joint venture for new Conrad hotels will be headquartered in Brussels, Belgium. Conrad Hotels president Clement Barter will be focusing on the worldwide expansion.
The joint venture partners will primarily achieve the brand development of Conrad through securing management contracts for new build hotels and conversions, requiring modest investment. 'We will be focusing on properties all over the world, but looking particularly at key cities and financial centres,' said Hilton Group spokesperson Tricia Fields. She added that the companies hope to sign approximately ten new deals by 2002.
The companies may also designate the Conrad brand to specific portions of existing Hilton properties, although this is as yet undecided.
This may be done by adding a Conrad wing or tower depending on the hotel's design. There are currently 12 Conrad properties worldwide including one in London's Chelsea Harbour.