Financial Daily from THE HINDU group of publications
Wednesday, Jun 22, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jun 22, 2005 |
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Corporate
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Alliances & Joint Ventures Hilton pact with Embassy Group for managing apartment block Our Bureau
Bangalore , June 21 HILTON International has signed a management contract with Embassy Group for a 250-unit serviced apartments in the city. The international hospitality major would be managing the proposed apartments at the Embassy Golf Links Business Park to be built off Airport Road. The Hilton Residences Bangalore, which would offer one to three bedroom units, would be the only five-star services apartments in Bangalore and would be set up in the 55-acre Embassy Business Park. The property would be surrounded by five million sq ft of commercial space. A company press release quoting Mr Koos Klein, President of Hilton, Middle East and Asia Pacific, said he hoped that Hilton Residences would become a short and mid-term home for the world's top engineers, software specialists and business people from the US and the UK and other European countries. The offices of IBM, Microsoft and DaimlerChrysler, which are proposed to be set up in the Business Park, would be a ready made market for the property. This is the second contract signed by Hilton recently, the first being the pact with Prestige Projects, a leading Real Estate and Infrastructure company, for managing a luxury hotel in the city.
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