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| SANTO DOMINGO, Dominican Republic & BEVERLY HILLS,
Calif. - Coral Hotels & Resorts and Hilton Hotels Corporation (NYSE:HLT)
announced today the joint decision to dissolve their agreement to develop
the Coral by Hilton brand. The decision, reached by mutual agreement, is
effective Oct. 31, 2006.
�This de-branding stems from a mutually agreed and amicable decision,� states Simon Suarez, executive vice president of Coral Hotels & Resorts. �The superior infrastructure and unique characteristics of Coral Hotels & Resorts guarantee seamless branding without starting from zero. Under the new structure, guests will continue to enjoy four exciting all-inclusive resorts with a wide variety of activities and accommodations to please any discerning traveler.� �Hilton has enjoyed a successful three year relationship with Coral Hotels & Resorts. This mutual decision is a result of our companies pursuing new direction and focus for development opportunities,� said Matthew J. Hart, president and chief operating officer, Hilton Hotels Corporation. Coral�s four existing all-inclusive resorts in the Dominican Republic
will no longer operate under the Coral by Hilton brand as of Oct. 31, 2006
and will revert back to the Coral Hotels & Resorts brand. All existing
reservations will be honored by all four hotels. For further information
guests should call 1-800-863-9281 or visit www.coralhotels.com
Costa Caribe, Formerly a Coral by Hilton Resort Juan Dolio, Dominican Republic Since 1996, Coral Hotels & Resorts has operated in the Dominican Republic, and will continue to do so under that banner. Following the de-branding process from Hilton, Coral Hotels & Resorts will soon launch a comprehensive marketing campaign, and will continue to sell through all existing distribution channels, including tour operators, travel agencies, electronic media and direct-consumers. |
| Contact:
Hilton Hotels Corporation � Caribbean & Latin America
Coral Hotels & Resorts
|