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Hilton Hones In On ChinaDecember 11, 2006 By: David Eisen Travel Agent
On the heels of Hilton Hotels Corp.'s announcement to develop hotels in India, the Beverly Hills, CA-based hotel operator on Monday announced it had formed an alliance to introduce more than 20 select-service hotels across China. Hilton, RREEF (the real estate and infrastructure investment management arm of the Deutsche Bank group) and private equity firm H&Q Asia Pacific signed a letter of understanding for RREEF and H&QAP to form a partnership to acquire, develop and convert sites for around 5,000 new rooms under the Hilton Garden Inn flag. Hilton would subsequently provide support in all aspects including marketing, site selection, training and operations. Foremost development locations include Shanghai, Beijing, Tianjin as well as key urban centers within the Yangtze River Delta and Bohai Bay regions.