LONDON AND BEVERLY HILLS, CA- Hilton Group Plc and Hilton Hotels Corp. have formed a joint venture company to expand the Conrad brand of luxury hotels on a worldwide basis.
Owned equally by Hilton Group Plc and Hilton Hotels Corp., this joint venture for new Conrad hotels will be headquartered in Brussels, Belgium, with Clement Barter serving as president. There are presently 12 Conrad properties operating in Europe, the Middle East, South America and Australia, along with another two now under development.
The joint venture partners will achieve Conrad brand development primarily through the securing of management contracts for new-build hotels and conversions, requiring modest investment. Additionally, the companies are exploring designating the Conrad brand to specific portions of existing properties. (11/15/00)