DLF, HILTON INK JOINT VENTURE ON HOTEL CHAINS (DLF will hold 74% of the stake in the enterprise and Hilton will hold 26%)

DLF, HILTON INK JOINT VENTURE ON HOTEL CHAINS (DLF will hold 74% of the stake in the enterprise and Hilton will hold 26%). Check it out:

(India Business Insight Via Thomson Dialog NewsEdge) The DLF group of Gurgaon and Hilton has entered into a deal to establish a chain of hotels in India at a cost of Rs10,000-12,000 crore.

DLF will hold 74 percent stake in the joint venture and Hilton will hold 26 percent. Hilton will have the option of increasing its stake to 49 percent later. This joint venture will help DLF utilise its vast land bank better.

For Hilton, it will be a gain from the ready availability of prime land across India.

DLF will carry out the construction work and develop the hotel while Hilton will manage the daily operations.

Copyright 2006 Silverline Information Systems Pvt. Ltd. Source : Financial Times Information Limited

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September 29, 2006 6:31 AM