December 11, 2006

Hilton Hotels Corporation, RREEF and H&Q Asia Pacific sign intention to introduce focused service hotels to China

Hilton Hotels Corporation (NYSE:HLT), RREEF (the real estate and infrastructure investment management arm of Deutsche Bank) and private equity firm H&Q Asia Pacific (H&QAP) today announced their intention to form an alliance to initially introduce more than 20 focused service hotels across China. Hilton Hotels Corporation, RREEF and H&QAP have signed a Letter of Understanding for RREEF and H&QAP to form a partnership to acquire, develop and convert sites for around 5,000 new rooms under Hilton’s burgeoning focused service hotel brand, Hilton Garden Inn. Hilton Hotels Corporation would subsequently provide expertise in site selection, development, training, operations support, brand management and marketing.
Press Release