CONRAD HOTELS ENTERS SECOND DECADE IN HIGH GEAR;
AGGRESSIVE PURSUIT OF INTERNATIONAL EXPANSION PLANNED
BEVERLY HILLS, Calif, Jan. 27 /PRNewswire/ -- To celebrate the 10th anniversary of Conrad Hotels, Eric M. Hilton, the company's president, is forecasting an aggressive approach to expansion that is expected to exceed the company's progress to date.
Since its 1982 launch, Conrad Hotels, the international subsidiary of Hilton Hotels, has spent the past decade opening six hotel properties in Australia, Ireland, England, the Caribbean, Hong Kong and Mexico with plans to more than double that number by 1995. The 1985 opening of the Hotel Conrad & Jupiters Casino on Australia's famed Gold Coast marked the first joint venture development to lead the way for more first-class and deluxe hotels, resorts and casinos in some of the world's fastest growing business and tourism capitals and resort destinations. La Belle Creole, on St. Martin, opened in 1988, and the Conrad Dublin followed in 1989. The next year, Conrad London opened at Chelsea Harbour followed by Conrad Hong Kong.
Rapid growth in Mexico, in particular, has resulted in last year's opening of the Conrad Cancun to be followed by Puerto Vallarta and Los Cabos deluxe resorts opening in 1992 and 1993, respectively.
By 1993, hotels in Istanbul and Brussels will join the slate of Conrad properties worldwide, offering business and leisure travelers luxury accommodations with a casino environment in Istanbul, and a hotel with a business center in a fashionable area of Brussels, the heart of the European community.
According to Eric Hilton who is the son of the late Conrad N. Hilton, founder of the Hilton hotel chain, "Our network of luxury hotels is currently made up of fine resorts in Cancun and St. Martin, a luxury hotel/casino on Australia's Gold coast and elegant business hotels in London, Hong Kong and Dublin. Within seven years, we plan to invest in and operate 25 hotel properties with a total of 10,000 rooms in cities throughout Western Europe, the Asia/Pacific region, South America and the Caribbean. Egypt, Italy and Spain; and New Zealand, Moscow and Poland could be next, but negotiations are still underway before the details are officially announced."
Plans for many of the business hotels revolve around mixed-use projects that integrate hotel, office, retail and residential space which, in the past, have proven to be successful ventures. In Hong Kong and London's Chelsea Harbour, for example, Conrad offers business travelers luxury accommodations amidst gardens, exquisite shops, residential apartments and office buildings.
Casinos have also proven to be a successful component of the Conrad product, and Hilton predicts future hotels will include these round-the- clock entertainment environments.
"Capitalizing on the unprecedented growth potential predicted for the world travel market in the 1990s, we are tapping into the world's largest business. With annual revenues of $2 trillion, international travel accounts for 13 percent of the world's total GNP, and Conrad Hotels will be in gateway cities and resort destinations to deliver a first-class product that has made Hilton one of the industry's most successful hotel companies," said Hilton.
Conrad Hotels, headquartered in Beverly Hills, presently operates six properties: Hotel Conrad & Jupiters Casino (Gold Coast, Australia); La Belle Creole (St. Martin, the Caribbean); Conrad London (England); Conrad Hong Kong; Conrad Dublin (Ireland); and Conrad Cancun (Mexico). Opening in 1992: Conrad Istanbul (Turkey) and Conrad Puerto Vallarta (Mexico); in 1993: Conrad Brussels (Belgium) and Conrad Los Cabos (Mexico).
/CONTACT: Iga Gaj, Conrad Hotels, 310-205-3690, or Shari Nakakura of Fleishman-Hillard, 213-629-4974, for Conrad Hotels/ CO: Conrad Hotels ST: California IN: LEI SU: SH -- NY083 -- 3834 01/27/92 14:25 EST