Coral Hotels & Resorts and Hilton Hotels Corporation end their joint development agreement
October 31st, 2006
Coral Hotels & Resorts and Hilton Hotels Corporation end their joint development agreement
SANTO DOMINGO, Dominican Republic and BEVERLY HILLS, Calif. (October 31, 2006) – Coral Hotels & Resorts and Hilton Hotels Corporation (NYSE:HLT) announced today the joint decision to dissolve their agreement to develop the Coral by Hilton brand. The decision, reached by mutual agreement, is effective Oct. 31, 2006.
“This de-branding stems from a mutually agreed and amicable decision,” states Simon Suarez, executive vice president of Coral Hotels & Resorts. “The superior infrastructure and unique characteristics of Coral Hotels & Resorts guarantee seamless branding without starting from zero. Under the new structure, guests will continue to enjoy four exciting all-inclusive resorts with a wide variety of activities and accommodations to please any discerning traveler.”
“Hilton has enjoyed a successful three year relationship with Coral Hotels & Resorts. This mutual decision is a result of our companies pursuing new direction and focus for development opportunities,” said Matthew J. Hart, president and chief operating officer, Hilton Hotels Corporation.
Coral’s four existing all-inclusive resorts in the Dominican Republic will no longer operate under the Coral by Hilton brand as of Oct. 31, 2006 and will revert back to the Coral Hotels & Resorts brand. All existing reservations will be honored by all four hotels. For further information guests should call 1-800-863-9281 or visit www.coralhotels.com
Since 1996, Coral Hotels & Resorts has operated in the Dominican Republic, and will continue to do so under that banner. Following the de-branding process from Hilton, Coral Hotels & Resorts will soon launch a comprehensive marketing campaign, and will continue to sell through all existing distribution channels, including tour operators, travel agencies, electronic media and direct-consumers.
Notes to Editor:
Hilton Hotels Corporation (NYSE:HLT) is the leading global hospitality company, with nearly 2,800 hotels and 485,000 rooms in more than 80 countries, including 150,000 team members worldwide. The company owns, manages or franchises a hotel portfolio of some of the best known and highly regarded brands, including Hilton®, Conrad®, Doubletree®, Embassy Suites Hotels®, Hampton Inn®, Hampton Inn & Suites®, Hilton Garden Inn®, Hilton Grand Vacations™, Homewood Suites by Hilton®, Scandic and The Waldorf=Astoria Collection™. For more information, please visit www.hiltonworldwide.com.
