Three CNL Owned Resorts - Grand Wailea Resort,
Arizona Biltmore Resort and La Quinta Resort
|BEVERLY HILLS, Calif. - Jan. 17, 2006 -- Hilton Hotels Corporation
(NYSE:HLT) has announced that the company is introducing a new luxury hotel
line that will extend the cachet of New York's legendary Waldorf=Astoria®
Unveiled today as "The Waldorf=Astoria Collection®," the new, elite brand designation will build upon the legend that company founder Conrad N. Hilton called "The Greatest of Them All," the Waldorf=Astoria. The Waldorf=Astoria Collection is launching with the Waldorf=Astoria itself and three world-class luxury resorts that will be newly managed by Hilton:
The Waldorf=Astoria hotel is wholly owned by Hilton Hotels Corporation, and the Grand Wailea, Arizona Biltmore and La Quinta properties are owned by Orlando-based CNL Hotels & Resorts, Inc., a leading hotel real estate investment trust (REIT).
Hilton Hotels Corporation will acquire the three management contracts
from La Quinta, Calif.-based KSL Resorts, which currently manages the three
"The Waldorf=Astoria Collection will build upon a deeply established and highly reputable hospitality name -- the Waldorf=Astoria -- that represents one of the cornerstones of our company's history," said Matthew J. Hart, president and chief operating officer of Hilton Hotels Corporation. "We will take this world-renowned name to new heights as we develop a new line of business that has significant growth potential and that we anticipate will have enormous appeal to current and prospective hotel owners and developers worldwide."
"The extension of the legendary Waldorf=Astoria designation to three of our premier destination resorts is an exciting undertaking that we expect will take these properties to even higher levels of sophistication," said Thomas J. Hutchison III, chief executive officer of CNL Hotels & Resorts. "We are particularly pleased to showcase this exclusive world-class designation within our portfolio of distinctive assets and to further our strong relationship with Hilton."
Criteria for the exclusive designation of The Waldorf=Astoria Collection will include architectural significance, unique decor and original artwork, historic or landmark status and a reputation for product and service excellence.
More than 55 years after Conrad Hilton's purchase of the Waldorf=Astoria, demand for luxury hotel accommodations and service continues to thrive. As such, the company anticipates that its new Waldorf=Astoria Collection will grow through:
Waldorf=Astoria Collection Portfolio
The debut of The Waldorf=Astoria Collection at the three CNL Hotels & Resorts properties will take place on January 31, 2006; at that time, The Waldorf=Astoria Collection will include the following:
Grand Wailea Resort Hotel & Spa: The Waldorf=Astoria Collection
An award-winning and world-famous property, the Grand Wailea Resort Hotel & Spa in Maui, Hawaii, includes 780 guest rooms and 100,000 square feet of meeting space. Situated on 40 meticulously landscaped acres, the Grand Wailea Resort Hotel & Spa opens onto Maui's beautiful Wailea Beach, voted one of the best beaches in Hawaii and America. Averaging 640 square feet of luxuriously appointed accommodations, each guest room features a private lanai (balcony), Italian marble bathroom with oversized bathtub and separate glass enclosed shower, sitting area and writing desk. The acclaimed Wailea Canyon's four activity pools include tile slides, a white water rapids slide, a Tarzan pool with rope swing, the world's only water elevator, a sand beach, six waterfalls, caves, three Jacuzzis, a sauna and an infant pool. Additionally, its renowned Hibiscus Pool is an architectural achievement. The resort's Spa Grande is noted among the Top 10 Spas in the United States by Conde Nast Traveler and Travel & Leisure magazines. An extensive art collection complements the resort, consisting of more than 80 works including original paintings, sculpture, graphics, murals and artifacts.
Arizona Biltmore Resort & Spa: The Waldorf=Astoria Collection
La Quinta Resort & Club: The Waldorf=Astoria Collection
About CNL Hotels & Resorts, Inc.
CNL Hotels & Resorts, Inc., the nation's second largest hotel REIT, owns one of the most distinctive portfolios in the lodging industry. With a focus on luxury resorts and upper-upscale properties, the company has nearly $5.5 billion in total assets with 92 hotels and resorts across North America that operate under independent and major hospitality brands. For more information, please visit www.cnlhotels.com.
About Hilton Hotels Corporation
|Also See:||CNL Hospitality Completes Acquisition of Six KSL Resorts for $1.4 billion in Cash and Assumption of $794 million Debt; KSL Appointed Interim Management Company / April 2004|
|Hilton Flags the 180-suite Waldorf Tower as a Conrad Hotel; Seen As a Symbolic Move Designed to Establish Conrad As a Luxury Brand in the United States / June 2001|