Hilton Hotels Continues Russian Expansion Plan in 2010

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(MOSCOW, RUSSIA) -- Hilton Hotels Group will not abandon its plans to open 70 hotels in Russia by 2018 despite the impact of the economic recession, according to the Russian media citing the sources in the US company.

Several weeks ago the company announced its plans to open the 7th hotel in Russia in one of the largest regions of the country, and, according to local analysts, soon may accelerate its expansion of the Russian hotel market.

"Currently we are continuing negotiations and ready to sign 3-4 contracts in the near future" - said Mike Colline, Hilton vice president for development in northern Europe. According to him, the company has not yet defined a specific region for its project.

At present, Russia remains a strategic market for Hilton's development in Europe, since there is potential for the company's entire portfolio of brands.

He also added that the company has 'a particular interest' to the largest Russian cities with the total population up to 1 mln. people.

According to the Russian media, the US company does not intend to stop there, and continues negotiations with potential investors and seeking partners in Russia for further business development.

Earlier the company announced that it has no plans to invest its own funds in the Russian projects, but will develop its business through franchising.

Hilton traditionally has a focus on the largest Russian cities such as Moscow and St. Petersburg. In addition, the list of potential sites for Hilton hotels includes such cities as Kazan, Ufa, Perm, Yekaterinburg, Sochi, Rostov, Krasnodar, Samara and others.

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