Stephen F. Bollenbach, Co-Chairman and Chief Executive Officer of Hilton Hotels Corporation, underscored the importance of multi-brand development to Hilton's growth strategy in China and globally during his first trip to China since Hilton Hotels Corporation acquired Hilton International in February 2006.
Bollenbach commented, "The reunification of Hilton Hotels Corporation with Hilton International has been very smooth. The deal brings vast potential for us in terms of strategically developing our business and brand portfolio globally. Our pipeline, the number of hotels we expect to open in the next few years, is now at 700 and this pipeline will grow significantly as we expand our family of brands into new regions like Asia Pacific".
Hilton says China is a prime example where the booming travel industry is witnessing a growing demand for different brand propositions that meet individual customer needs.
The Hilton and Conrad brands are strongly recognized in Asia and the company is currently exploring which other Hilton family brands to develop in China and the growth regions.
Hilton currently manages 5 hotels in China. Recently announced new expansion plans include a Conrad in Shanghai scheduled to be completed in 2008, the Hilton Taiyuan in Shanxi Province in 2009, a 1200-room Hilton Hotel, a 300-room Conrad Hotel and 300 Conrad residencies on the Cotai Strip in the Special Administrative Region of Macao.
With the Hilton Hefei scheduled to open at the end of this year, plans are also underway to launch Hilton Xiamen in the next 3 years.