Hilton Worldwide (NYSE: HLT) has signed a Letter of Intent with Grupo Cartes to bring the flagship Hilton Hotels & Resorts brand to Paraguay. The management agreement is anticipated to be signed in Q1 2016.
"We are pleased to solidify our negotiations with Grupo Cartes by completing this important step in our development process," said Ted Middleton, senior vice president, development, Latin America, Hilton Worldwide. "The signing of this deal will represent a great milestone for Hilton as we continue our growth efforts in the region and expand into new markets."
L to R: Osvaldo Gane Salum, director, Grupo Cartes; Sarah Cartes, Grupo Cartes; Ted Middleton, senior vice president, development, Latin America, Hilton Worldwide; Eduardo Rodríguez Suarez, managing director, development, Brazil and Southern Cone, Hilton Worldwide at Signing Ceremony in Paraguay
"Expanding our global footprint is one of our Hilton Worldwide strategic priorities and we are making significant headway in Latin America with more than 50 projects in our pipeline," said Tom Potter, senior vice president, Latin America and the Caribbean for Hilton Worldwide. "A Hilton hotel in Asuncion, Paraguay, the country's capital and largest city, would strengthen our commitment to this goal and proudly bring the company's flagship brand to the heart of South America."
Designed by renowned Uruguayan architect Carlos Ott and expected to open by the end of 2018, plans call for a full-service Hilton hotel featuring 180 guest rooms and 50 Hilton branded residences located at the intersection of Aviadores del Chaco and Campos Cervera.
"It would be a pleasure to work with Hilton Worldwide on this exciting project and together, introduce Paraguay to Hilton, the most recognized name in the hospitality industry," said Osvaldo Gane Salum, director, Grupo Cartes. "Our local expertise combined with Hilton's 96 years of renowned service standards and exceptional guest experiences would pave the way for a successful partnership."
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