Hilton International to Open First Hotel in Portugal

Lisbon, Imocom Turismo and Hilton International have signed a 20-year contract for the management of the "Hilton Vilamoura As Cascatas Resort & Spa", a mixed complex including a 5 star hotel, a spa and residential buildings, to be built on land between the Vilamoura Old Course and Pinhal Golf courses in the Algarve.

This will be the first hotel resort in Portugal to bear the Hilton International flag, the result of an agreement with the Imocom Group, the Portuguese real estate promoter. The opening of the hotel is forecast for the start of 2007.

The development is to be made on land with an area of 40 thousand square metres and will consist of a mixed used integrated resort, including a hotel with 152 bedrooms, 8 suites, 69 serviced-apartments, a spa, and residential buildings with 69 apartments.

The "Hilton Vilamoura As Cascatas Resort & Spa" will have one of the largest and most modern spas in Vilamoura, with an area of approximately 2,000 sqm.

The 69 residential apartments, from the two- to four- bedroom type, are already up for sale. The owners of these apartments, located in buildings independent of the hotel building, will be able to enjoy the services and facilities of the hotel resort.

The agreement with Hilton International covers the integrated management of the different components of the resort in accordance with the international standards of the brand. Hilton will also provide direct assistance services to the apartments, namely, room service, cleaning and maintenance.

Theo Kreutzer, Hilton International Vice President Mediterranean, commented: "The agreement with IMOCOM represents a great opportunity for us to gain a foothold through a great complex in one of the most important leisure destinations in Europe: Vilamoura in Algarve. We are delighted that the Hilton flag will soon be seen flying for the first time in Portugal. Through this project, we look forward to extending our hotel portfolio with a top quality Spa and Hotel Resort offering our customers for their leisure and incentive stay the opportunity to enjoy the Hilton well-known quality of services and products in an important country such as Portugal".

Alejandro Martins, president of the Imocom Group, added: "At a time when we are developing our business and asserting our presence in the tourism sector, we could not have found a better partner than the prestigious Hilton Group. We are sure that this will be one of the most emblematic tourism developments in the Algarve, exactly the kind of top range offer which Portugal must provide. This is the first internationally branded hotel in the Algarve since 1991."

Vilamoura: the most exclusive development in Europe

The "Hilton Vilamoura As Cascatas Resort & Spa" is located in central Vilamoura, the largest and most exclusive tourist development in Europe, which includes a marina, 5 golf courses, commercial areas and a tranquil environment blended into the landscape.

The Resort is situated between the Pinhal and Old Course golf courses. The latter is considered by many to be the best golf course on the Iberian Peninsula. By being located between the two golf courses, which guests will be able to use, the development is set in an immense continuous green mantle.

When the Imocom Group purchased the land in 2003 it was with the objective of making a high quality investment, which would be suitably integrated in the environment. In the architectural design of the "Hilton Vilamoura As Cascatas Resort & Spa", the prevailing concept has been based on the eighteenth century romantic ideal of recreating paradise in the form of an idyllic garden area, with multiple attractions such as garden pavilions, loggia, lakes and grottos. The total investment of the owner, the Imocom Group, is to be more than 75 million euros.

Imocom Group | The Imocom Group is active in 4 sectors: construction and real estate promotion, tourism, distribution and industry.

In the real estate promotion sector, the Imocom Group has developed a strong presence in the office market and is now a major player in the Portuguese real estate scene, having received awards for distinction for four consecutive years in the «Real Estate Oscars» competition. In 2000, the company received the awards «Best Development of the Year» and «Best in the Office Category» for the Sony headquarters building in Parque das Nações in Lisbon. The Infante Building, in 2001, the Zen Tower, in 2002, and W Shopping, in 2003, were considered to be the Best Office and Retail Developments in the respective years.

Imocom Turismo is the result of the Group's latest venture in a sector which it considers to be of strategic importance. In addition to the "Hilton Vilamoura As Cascatas Resort & Spa", Imocom Turismo also has investments under way elsewhere in Portugal, in Angola and in Cape Verde.

• Hilton International | Hilton International (HI), an operating division of the UK based Hilton Group plc, owns the rights to the Hilton brand name throughout the world, with the exception of the USA, where the Hilton brand is owned and managed by Hilton Hotels Corporation (HHC). HI operates 403 hotels, with some 261 branded Hilton, 47 of which come under the Hilton Worldwide Resorts brand, plus 142 under the mid-market Scandic brand.
• Under a joint venture agreement, Hilton International and the North American based Hilton Hotels Corporation (HHC) share responsibility for the Conrad brand, which includes 17 hotels in 12 countries. A global marketing alliance between Hilton International and Hilton Hotels Corporation extends the number of hotels operated by both companies worldwide to over 2,700 over 500 of which are branded Hilton. Hilton International Grand Vacations Company presently operates 4 resorts in Scotland and Egypt, comprising 271 time-ownership units.
• Hilton International employs over 70,000 staff in 78 countries.
• Committed to doing business in a responsible way, Hilton International's aim is to bring a positive benefit to the societies in which it operates through high quality services, economic growth, environmental protection, community involvement and employment.
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