Source: Press release by Hilton Hotels - Oct 20, 2008
Hilton Hotels has announced expansion plans to quadruple its presence in the Caribbean and Latin America by adding 150 new hotels to the portfolio over the next five years. The company also reveals a new development structure, made up of six dedicated staff, to lead the efforts in achieving this objective. This news underscores the company’s stated goal to add 1,000 hotels to its international portfolio in ten years. Steve Goldman, President, Global Development & Real Estate, for Hilton Hotels, explained: “Expanding our global platform is a strategic priority for Hilton. We are focusing on accelerating the growth of our international management and franchise business by securing strategic development agreements and employing resources in international markets. This is the most exciting time in the company’s history and there are tremendous opportunities which we are acting on to accomplish our ambitious plans.” Hilton currently has 42 properties in the Caribbean and Latin America development pipeline and has identified a number of strategic markets in gateway cities and resort destinations for further growth of selected Hilton Family brands. With an existing portfolio of 51 hotels throughout the Caribbean and Latin America, this expansion will bring the company’s total presence in the regions to more than 200 properties.