LONDON The Hilton Group PLC said it is planning an aggressive overseas expansion of its hotel management activities, and reported a 2.5% decline in full-year pretax profit. Hilton Finance Director Brian Wallace said that the group will manage 32 additional hotels in 23 countries over the next two years.
Hilton added 12 hotel management contracts abroad in 2000, with Buenos Aires, Moscow, Copenhagen and Auckland now in its portfolio. Six of the hotels included in the expansion program will become Hilton International hotels by the end of the first quarter of 2001. (2/22/01)
SOURCE:Wall Street Journal