Hilton-DLF combine to develop 75 hotels in India over next 7 years

Mumbai, Nov 28 (UNI) Hilton Hotels Corporation, a NYSE listed company will forge a joint-ventre with a property company DLF Ltd to develop 75 hotels and serviced-apartment complexes in India over the next seven years.

The US hotel group said it would invest up to 3 million over the next five to seven years in the joint-venture company, which would be 74 percent owned by DLF, said a Hilton press release here.

Initially, 20 hotels would be developed in cities including Chandigarh, Chennai, and Kolkata, the release said.

Commenting on the development, Mr Ian Carter, the chief executive officer of Hilton International Operations, said in a statement,'' India is an outstanding market for the hotel development, given its powerful combination of economics and demographics.'' The deal needed formal written approval from the government, the release said.

Last week, the government said it had approved the proposal.

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