LONDON- The European boutique hotel market may gain a new competitor- the Hilton Group, which is currently building a 130-bedroom hotel in Londons Trafalgar Square due to open in May 2001. If successful, Hilton plans to develop a small chain of boutique hotels to profit from this lucrative market.
On a separate note, Hilton is engaged in talks with the Israeli-based hotel operator Park Plaza Europe to sell off six former Stakis hotels for an estimated $74 million. Park Plaza Europe has hotels throughout Europe and Israel; the European hotels include the Shaw Park Plaza in Euston and the Sherlock Holmes in London. (11/17/00)
Source: HVS International