Hilton And Parque Arauco Announce Signing Of Anticipated Hilton Hotel in Santiago, Chile

MCLEAN, Va. -- Hilton (NYSE: HLT) and Parque Arauco S.A. today announced the signing of a management agreement to operate a new build 401-room Hilton hotel in Santiago, Chile - bringing the company's flagship brand to the country. Hilton Santiago Las Condes will form part of the Parque Arauco Kennedy Shopping Mall complex expansion project scheduled to begin construction next year and debut in 2021. The project, owned and developed by Parque Arauco S.A., will include a Convention Center, new retail outlets, 700 parking spaces and the Hilton managed hotel.

"Hilton remains focused on expanding our industry leading brands throughout Latin America and we are thrilled to bring the company's flagship Hilton Hotels & Resorts brand to Chile," said Eduardo Rodriguez Suarez, managing director development, Brazil and the Southern Cone Region, Hilton. "We have been working diligently to bring this project to fruition and we are proud to announce this milestone deal with Parque Arauco S.A. as partners."

Strategically located in one of the city's most iconic shopping destinations, offering retail, entertainment, dining and more, Hilton Santiago Las Condes will serve as an ideal base for both business and leisure travelers visiting the city for events or a sophisticated city escape. The new hotel, designed by Gensler Architecture, Benkel Larraín Architects, and Enrique Concha & Co interior design, will offer guests two restaurants and three bars; spa with heated indoor swimming pool; 30^th floor terrace with outdoor swimming pool and sky bar overlooking the city; 29^th floor fitness center; executive lounge; and access to the city's largest hotel convention center with more than 32,000 square feet of flexible space to host events for more than 2,800 guests. The hotel's seventh floor will be home to outdoor gardens offering a privileged view of Parque Araucano - an expansive natural setting in Las Condes area of Santiago.

"Our more than US$200 million investment in this development consolidates mixed-use as a business focus of the company, not only including commercial space, but further enhancing hotel supply with a new and complete offering. We are pleased with this project's progress as it strengthens our position in an industry where we have been pioneers and innovators," said Andrés Torrealba, general manager, Chile division, Parque Arauco S.A. "The location of our shopping center, along with the addition of a full-service Hilton hotel managed by a leading global hospitality company will allow us to successfully meet a growing demand for this type of space in the city."

"With its diverse tourism and cultural attractions, Chile is an exciting new destination for Hilton as we expand our global portfolio," said Shawn Mcateer, vice president, global brand management, full-service hotels, Hilton. "We look forward to the debut of our Hilton Hotels & Resorts brand in Santiago - Chile's capital and largest city, and welcoming travelers with our renowned hospitality."

The hotel will participate in Hilton HHonors^®, the only hotel loyalty program that allows members to earn Points & Miles^® on the same stay and No Blackout Dates on reward stays. Hilton HHonors members who book directly through preferred Hilton channels receive instant benefits, including an exclusive member discount that can't be found anywhere else, free standard Wi-Fi and digital amenities like digital check-in with room selection and Digital Key available exclusively through the industry-leading Hilton HHonors app.

Hilton currently has a portfolio of more than 90 hotels and resorts open and welcoming travelers in Latin America. The company is actively pursuing additional Latin American growth opportunities and currently has a robust pipeline of more than 50 hotels throughout the region.

For more information about this hotel and upcoming Hilton Hotels & Resorts brand openings visit www.hilton.com or news.hilton.com.

About Parque Arauco S.A.
(SSE: PARAUCO) (Bloomberg: PARAUCO:CI) ("Parque Arauco") Develops and manages multi-format real estate assets, mainly for commercial use, orientated towards differentiated socio-economic sectors in Chile, Peru and Colombia. Parque Arauco S.A. owns and operates four shopping center formats: regional, neighborhood, outlet malls and strip centers. Their tenants are department stores, home improvement stores, supermarkets, restaurants, cinemas, health centers and smaller stores, offering various types of products. As of 08/31/16, Parque Arauco has 873,000m2 of total GLA in Chile, Peru, and Colombia. The company inaugurated its first shopping center in Chile in 1982, entered Peru in 2005 and Colombia in 2008. The company's assets include six regional shopping centers, four premium outlet malls and 13 strip centers in Chile; six regional shopping centers, eight neighborhood centers, two premium outlet malls and two strip centers in Peru; and two regional shopping centers in Colombia as well as a large land bank to support the company's future growth plans. For more details, visit the company's website: www.parauco.com.