Hilton-DLF JV to build 75 hotels in India

New Delhi, Nov 28: US-based Hilton Hotels Corporation today said it will pump in 143 million dollars in the lucrative Indian hospitality sector to form a joint venture company with DLF Ltd to develop and own 75 hotels and serviced apartments in the country.

The company will execute its plans over the next seven years.

The JV company -- with DLF holding the majority 74 per cent stake -- will develop and build these properties, while Hilton will manage them.

The initial stage of the joint venture will involve 20 hotels in a number of key locations including Chandigarh, Chennai and Kolkata.

Beyond the initial 20 sites, the JV company will continue to identify and acquire sites and undertake new hotel developments.

''We see tremendous opportunities for growth in the hospitality sector in India, given the attractive tourism and business avenues unfolding in the country,'' DLF Hospitality Business Director Shakti Singh said.

A large number of these hotels are expected to be Hilton Garden Inns -- a business hotel brand, offering focused service.

The formation of the joint venture is pending for a formal written approval from the Government.

Through this strategic partnership, company is confident of bringing world-class hospitality and services across the country, Mr Singh added.

Hilton Hotels Corporation Executive Vice President Ian Carter said India is an outstanding market for hotel development, given its powerful combination of economics and demographics.

The JV-owned hotels will represent several brands from Hilton Hotels Corporation's brand portfolio, including Hilton Hotels, Hilton Garden Inn, Homewood Suites by Hilton and Hilton Residences.

UNI