Hilton Group
Hilton Group is a global company operating in the hospitality and betting markets with the leading brand names of Hilton and Ladbroke. The group intends to enhance shareholder value by maximising its prime position in these international markets both of which are expected to experience significant long-term growth.
Hilton Group plc is a major international company with two operating divisions - Hilton International which owns the rights to the Hilton name outside the USA and Ladbrokes Worldwide which is one of the world’s largest commercial off-track betting and gaming organisations. Formerly known as Ladbroke Group PLC, the group’s name was changed on 14 May 1999 following shareholder approval at its 1999 Annual General Meeting.
The Hilton Group was floated on the London Stock Exchange in 1967 with an initial market value of just under £1 million. Today, the Hilton Group is one of the largest companies listed on the London Stock Exchange and a constituent of the FTSE 100 index. The Hilton Group has a market value of approximately £2.5 billion, a turnover of around £5.5 billion and employs more than 77,000 people worldwide
The group’s largest division is Hilton International which holds the rights to the Hilton name outside the USA. It currently operates over 380 hotels in over 70 countries worldwide. At the time it was acquired by the group in October 1987 for $1,070 million, Hilton International owned or managed 92 hotels.
On 13th January 1997, the group announced the signing of a worldwide alliance with Hilton Hotels Corporation, the owner of the Hilton name within the USA, this reunited the Hilton Hotel brand for the first time since 1964. Under the terms of the alliance, Hilton Hotels Corporation and Hilton International are co-operating on sales and marketing, loyalty programmes, central reservation systems and other operational matters. In November 2000 Hilton Group and Hilton Hotels Corporation announced a further initiative between the two companies - the formation of a joint venture company to expand the Conrad brand of luxury hotels on a worldwide basis.
On 26th March 1999, the Hilton Group completed the acquisition of Stakis plc, which added 54 hotels in the UK and Ireland to its portfolio, together with 68 LivingWell health clubs.
On 23rd April 2001 the Hilton Group announced that it had made a recommended offer for Scandic Hotels AB, the leading Nordic hotel operator, with 154 hotels in the Nordic region and elsewhere in northern Europe. The transaction was completed on 11th June, increasing the number of hotels operated by Hilton International to 379. This acquisition represents a further important step in Hilton's strategy to achieve a leading position in the European full service hotels sector.
Hilton International is committed to expanding globally, to bring the world’s most powerful hotel brand to first-class hotels, convention centres and serviced apartments in city centre locations, at international airports and in prime resorts identified as key to its customers. Properties are either owned or are operated under lease arrangements or, increasingly commonly, under management contract.
During 2002 Hilton International opened 16 new hotels worldwide including Sharm El Sheikh, Egypt, Kuwait, London Paddington, Cologne, Tokyo Airport and Chongqing, China. A further 11 have or are scheduled to open in 2003 including Curacao, Newcastle and Cebu, Philippines.
Source www.hiltongroup.com
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