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Hilton examining potential of Romanian cities for new brands

Hotel company Hilton Worldwide brings to Romania yet another brand in its portfolio, DoubleTree, and has plans to bring all seven hotel brands it owns to the domestic market in three to five years, DoubleTree Hotels Vice president and Global Head Rob Palleschi told the Business Standard daily on Tuesday.

The first DoubleTree hotel will open in the western Oradea city in next September, with this being the third Hilton Hotel in Romania, after Athenee Palace Hilton in Bucharest and Hilton Sibiu (central Romania).

The development strategy of DoubleTree chain in Romania has been devised for the next five-ten years, and Oradea is a city with a great potential for development and moreover it is a metropolitan area, the industrial output of which has increased, the same as the investments, Palleschi said by explaining the choice.

The Oradea investment put at 15 million euros is developed by Calipso company, that is controlled by Financial Investment Company (SIF) Banat-Crisana. The majority shareholder will provide 10 million euros of the total required amount, with the remaining five million euros to be divided between a bank credit and Calipso's own resources, said Sorin Ionescu, managing partner at Fivestar Hospitality, the hospitality industry consultancy that represented the owner during the talks.

Once opened, the hotel will be managed by Hilton team, following a management contract signed by the two partners.

DoubleTree hotels, ranked upscale in Hilton portfolio, rely on business tourism at a rate of 60 percent, with the remaining 40 percent being accounted for by leisure tourism. Such 40 percent will be secured by the tourists visiting Oradea for the spas located near the city, Hilton officials said, adding that DoubleTree Oradea itself will have a spa centre covering over 1,000 square metres.

Calipso S.A., the hotel owner and developer, is a share company 91.57 percent owned by SIF Banat-Crisana. SIF Banat-Crisana is an investment company set up in 1996 and listed on the Bucharest Stock Exchange (BVB) since 1999.

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