Plans call for development of six Hampton Hotels throughout the next three years
Hilton Hotels Corporation (NYSE: HLT) today announced development plans with Tenedora Augusta, S.A.P.I. de C.V., a well established hotel development company based in Mexico. Tenedora Augusta will work actively to develop Hampton Inn and Hampton Inn & Suites focused-service hotels within certain defined markets throughout Mexico and will operate the hotels under Hampton Inn franchise agreements.
'This is another major step in our previously announced plan to align with well established, experienced development partners as we continue to grow the Hilton Family of Hotels internationally,' said Tom Keltner, chief executive - Americas & global brands, Hilton Hotels Corporation. 'We already have eight Hampton flags in Mexico, and this relationship will help us accelerate our growth rate there. Tenedora Augusta is a proven hotel developer with a successful track record and will continue to help us expand the Hampton flag in the pivotal Mexican marketplace. In fact, Tenedora currently owns and operates three Hampton Hotels in the Monterrey, Saltillo and Torreon markets in Mexico.'
'As the Mexican economy continues to expand, the need for top tier hotels rises exponentially,' said Victor Zorrilla, president, Tenedora Augusta. 'The Hilton Family of Hotels and the Hampton brand are well respected throughout North America. With the growing need for focused-service hotels in Mexico, we believe associating ourselves with a brand leader such as Hampton will help us to quickly establish a leading market position.'
Among the cities and destinations targeted are Tijuana, Queretaro, Guadalajara, Cancun and Monterrey. Tenedora Augusta will receive certain preferred development rights in return for meeting certain goals and timetables.
'The travel benefits of a major brand are reciprocal to both locals and foreigners,' said George Massa, senior director - development, Mexico, Hilton Hotels Corporation. 'All guests can be assured that they will encounter the same quality product in each new market. In addition, through use of the Hilton HHonors loyalty program, points can be earned and redeemed internationally*, driving new business to Mexican markets and enticing local guests to travel abroad with incentives offered only by the Hilton Family of brands.'
About Tenedora Augusta
Tenedora Augusta is Mexico's leading focused-service hotel developer having developed 1,720 rooms in 8 hotels, including the first Hampton Inn(R) property in Latin America. Tenedora Agusta is the resulting joint venture between Centro Rio S.A. de C.V.(Hoteles Prisma), a corporation owned by Victor Zorrilla Vargas and Joel Zorrilla Vargas and Citigroup Venture Capital (CVCI) and Indigo Capital.
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