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Hilton Hotels has joined forces with Belgravia Asset Management in its latest expansion into Russia.
A contract has been drawn up between the two corporations to formalise the introduction of 25 new hotels across the Federation.
The hotel chain will be launching Hampton by Hilton and the Hilton Garden Inn in Russia, with the first property likely to be a Hampton creation in St Petersburg, due to open in the second quarter of 2008.
”With the limited number of internationally branded properties in Russia, this alliance with Belgravia will help us accelerate our growth plans and make a significant impact on the Russian hotel market in a relatively short space of time,” said Hilton CEO, international operations, Ian Carter.
”The introduction of additional brands from the Hilton Family of Hotels will also enable us to provide a hotel product to suit all sectors and budgets.”
In the long-term, the company anticipates opening some 70 hotels under the Hilton umbrella in Russia within the next 10 years, with aninterest in regional cities.
A separate development to the Belgravia-partnered expansion is the Hilton”s first Russian hotel: the 275-room Hilton Moscow Leningradskaya, scheduled to open early in 2008.
Hilton Hotels is viewed by many as the leading global hospitality company, with more than 2,800 hotels in 76 countries.
Belgravia is a Jersey-based fund management company, which offers a range of investment funds to high net worth investors.