Hilton Signs First Doubletree(R) China Management Agreement

• 
  SAVE
• 
  SHARE
• 
  TEXT SIZE
• 
  PRINT
• 
  COMMENT
• 
  PDF

. October 14, 2008

BEVERLY HILLS, CA, October 30, 2006. Hilton Hotels Corporation (NYSE:HLT) today announced the latest milestone in its expansion effort for the upscale, full-service Doubletree(R) hotel collection in the burgeoning China market. The Company has signed a multi-year agreement with Tianjin Automobile Industrial Group Company, one of China's largest automobile manufacturers, to manage an upscale, 360-room hotel in Tianjin, China's fourth largest city. The Doubletree by HiltonTM Hotel Tianjin is anticipated to open in this world-class city in late 2007.

The Doubletree by Hilton Hotel Tianjin will be located in the heart of this thriving business and tourism centre, 14 km from the Tianjin Binhai International Airport. Developer Tianjin Automobile will refurbish and redesign a 25-storey office building to house the Doubletree by Hilton Hotel Tianjin, as well as a shopping centre.

Amenities and services at the Doubletree by Hilton Hotel Tianjin will include 2,500 square meters (26,900 square feet) of meeting and ballroom function space and state-of-the-art business centre facilities. The hotel will feature a variety of food and beverage outlets, including all-day dining facilities, to cater for in-house guests and local banqueting events. Room and suite sizes will range from 30 to 90 square meters (320 to 950 square feet) and the hotel will feature a fitness centre.

"This latest Doubletree management contract in China underscores our strategy to integrate our successful Hilton Family of Hotels brands into international growth markets," commented Koos Klein, president - Middle East and Asia Pacific for Hilton. "Apart from being a host city for the highly anticipated soccer competitions of the Beijing Games in 2008, Tianjin is a growing tourism destination in its own right, with more than 20 percent growth in 2005. As a full service upscale hotel, the Doubletree by Hilton Hotel Tianjin will be well positioned to provide first class hospitality and amenities in this rapidly developing commercial hub."

Doubletree has a fast-growing portfolio of more than 170 full-service hotels and resorts in gateway cities, airport locations, suburban markets and leading leisure destinations throughout North America and South America. In July 2006, the Company announced its first Doubletree debut into the Asia Pacific region with a management contract for the Doubletree by Hilton Resort and Spa Near Sriracha, Thailand. The multi-phase, 358-room, upscale resort project is currently under development and scheduled to open in 2008.

"This first foray into the China hotel market is an incredible new chapter for our Doubletree hotel collection. We continue to attract considerable interest from hotel owners and management companies across North America, and now the world, as they discover Doubletree has quickly become one of the most dynamic brands in the upscale, full-service hotel market today," said Dave Horton, senior vice president - brand management for Doubletree Hotels. "Thanks to an experienced development team and strong operations infrastructure already in place through a great Hilton corporate team in this part of the world, we are look forward to expanding the reach of our Doubletree portfolio throughout China and across the Asia-Pacific Region."

Shi Tang Zhang, President, Tianjin Automobile Industrial Group, added, "We are delighted to announce the development of the Doubletree by Hilton Hotel Tianjin. With its high product standards and service coupled with benefits from the industry's leading HHonors loyalty programme, we expect the Doubletree by Hilton Hotel Tianjin to be a great success among local and foreign travelers alike."

"Doubletree Hotels embraces a strong philosophy of providing millions of travelers with a fine collection of full-service hotels across the Western Hemisphere that combine contemporary style and comfort with an attention to detail that ensures guests are appreciated and well taken care of. By introducing the Doubletree experience with the worldwide recognition of the Hilton name, we are honored to work with Tianjin Automobile to deliver this uniquely branded Doubletree by Hilton hotel opportunity," Horton added.

About Tianjin Tianjin is one of four autonomous municipalities in China, and is the largest open seaport and one of the most important industrial, commercial and cultural centres in North China. Located 120 kilometers southeast of Beijing, the city is home to over 10 million people and more than 4000 foreign-funded companies from over 100 countries. In addition to being an emerging business travel hub, the city is surrounded by scenic parks and rich historic attractions that reflect its 1000 year heritage. In 2005, Tianjin recorded over 700,000 tourist arrivals from overseas, and double-digit growth in tourism continues each year.

Hilton Family of Hotels in China

Hilton Hotels Corporation currently operates five hotels in China, including Hilton hotels in Shanghai, Beijing, Sanya, Chongqing and a Conrad in Hong Kong. Future development plans include a 1,200-room Hilton and a Conrad in Xintiandi, Shanghai. In early 2007, the Hilton Hefei will commence operations.

About Tianjin Automobile Industrial Group Company

Tianjin Automobile Industrial Group company Limited has a registered capital of US$547 million. Tianjin Automobile is one of the largest automobile manufacturers in China. It is a 100% state-owned enterprise and it is mainly owned by the Tianjin Municipal People's Government.