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Hilton announces large-scale Turkish expansion
Hilton Hotels Corporation has signed a deal with developer Kosifler Group to develop around 25 new properties in Turkey.
Over the next five years, Hilton and Turkey-based Kosifler Group will introduce mainly Hilton Garden Inn-branded hotels, which will be managed by Hilton.
The Times reported that the total cost of the new properties will reach US$1bn (£508m).
Wolfgang Neumann, president of Hilton Hotels Europe, said: “Hilton has enjoyed a longstanding relationship with Turkey, having gained a foothold 53 years ago when we opened Hilton Istanbul, but even today the country still represents an exciting growth opportunity for us.
“We are confident that this alliance with the Kosifler Group will help us accelerate our expansion plans.”
In addition to this agreement, the two companies have also signed a management deal for the development of their first property, a 121-bedroom Hilton Garden Inn, which is expected to open in the western city of Kutahya in October 2010.
Turkey is the latest of Hilton’s ‘key development regions’, which include Russia, the UK and Ireland, Italy, the Iberian Peninsula, Germany and Poland.
Over the next two years, the company will open new hotels in Bari, Lecce and Bologna in Italy; Rzeszow in Poland; Frankfurt in Germany; Perm in Russia and Kutahya, Bursa, Manisa and Diyarbakir in Turkey.
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