The Conrad Hotel chain, owned by London-based Hilton Int’l, is expanding its presence into the U.S. thanks to a newly formed joint venture between Hilton Group Plc and Hilton Hotels Corp. The 50-50 joint venture company will be charged with Conrad’s expansion strategy, which will focus on securing locations in key urban U.S. markets over the next several years as well as new sites abroad. The first of these U.S. Conrad Hotels is expected to open as early as mid-2001. The Conrad brand is already well established overseas as a luxury chain that caters to business and leisure travelers. It currently has a base of 12 properties operating in Europe, the Middle East, South America and Australia. Two additional Conrad hotels are under development in Bangkok, Thailand and Jakarta, Indonesia. The hotels will open early next year. Hilton Hotels Corp., based in Beverly Hills, CA, will now have a presence in all market segments in the U.S. including the luxury sector with the Conrad expansion, which will take shape in the form of management contracts for new-build hotels and conversions.
