Orenstein's Hospitality Investors Group to
Explore Expansion in North America
|New York, New York, July 13, 2005 - Karmenu Vella, chairman, Corinthia
Hotels International (CHI) and Frank Orenstein, chairman, Hospitality Investors
Group LLC (HIG), made a joint announcement about forming a world-wide strategic
alliance whereby HIG will use its international network of relationships
to aggressively assist CHI in expanding its Brand, already recognized as
one of the fastest growing hospitality groups in Europe. The announcement
stated that HIG will arrange the critical capital to allow for CHI, a Malta
based company, to grow its brand through management contracts to supplement
the 20 mostly owned properties that make up CHI's current portfolio of
four- and five-star hotels.
Karmenu Vella, a former Minister of Tourism for Malta, joined CHI in 2001 and has been Chairman since 2002.
About Corinthia Hotels International
Corinthia Hotels International's four decades of experience in the hospitality industry began in 1962 with the acquisition by the Pisani family of Villa Corinthia, an art nouveau villa in Malta which was to be operated as an upscale restaurant.
The Corinthia Restaurant soon established itself as an essential part of Malta's glittering social scene. With its success firmly established, the next stage was to construct a hotel and, in 1968, the Corinthia Palace Hotel was opened on the Grounds of Villa Corinthia.
CHI is today a fast growing hotel operation with 20 four- and five-star city and resort hotels, and a room inventory in excess of 6000, in Belgium, The Czech Republic, Hungary, Libya, Malta, Portugal, Russia, The Gambia, Togo, Tunisia and Turkey. CHI takes pride in keeping alive the local character and individuality of each of its hotels. Outstanding service is the Company's hallmark and it strives to ensure that guests enjoy each property's distinct style and tradition. Indeed, the stated aim is to exceed customer expectations in all Corinthia hotels at all times.
A continued family commitment, coupled with a well-trained and motivated workforce of more than 5,000 employees, CHI is a dynamic institution that looks towards present and future growth with a confidence born out of long years of experience in the hospitality sector and an inherent desire of achieving excellence in all its activities.
|Also See:||Hospitality Investors Group Acquires the 800 room Regal Constellation Hotel at Toronto Airport; Planning Repositioning and Renovation / February 2004|
|Gerold Held Appointed General Manager of the Corinthia Nevskij Palace Hotel, St.Petersburg, Russia / May 2005|