Hilton Int’l. To Manage Second Site In Spain

VALENCIA, SPAIN— Hilton International has signed an agreement to manage its second hotel in Spain— the new Hilton Valencia— on behalf of its owners Hotel Palacio de Congresos SL, a subsidiary of Residencial Siglo XXI SL. The 307-room property will be located in the Ademuz area of this city, directly opposite the Norman Foster-designed convention center on Ave. Cortes de las Valencianas. It was noted the new hotel, together with its twin residential development on the other side of Ave. Cortes de las Valencianas, will form the “gateway” to Valencia. As such, it should offer convenient connectivity to the city center, the Alicante-Barcelona motorway, the trade fair and the airport. Scheduled to open toward the end of 2004, the Hilton Valencia forms part of a new development consisting of two towers— one featuring 30 floors and the other 15— and a large common ground floor. Hotel facilities are slated to include five Executive Floors with exclusive executive lounge, 18 meeting rooms offering “Hilton Meetings” state-of-the-art meeting and conference solutions, and a ballroom designed to accommodate up to 1,200 guests. Leisure facilities will encompass two restaurants, bars and a health and fitness center with a swimming pool. Additionally, parking for up to 300 cars will be made available as well. Andersens Real Estate Services Division in Spain and J&A Garrigues have provided advisory services to the development company. Incias is the selected technical and architectural company.