Hilton Signs Management Agreement for Property in Ghana

DUBAI, UAE, August 14, 2007. Hilton Hotels Corporation today announced the signing of its first property in Ghana, West Africa - the Hilton Accra Airport City. The 186-room hotel scheduled to open in early 2010, is owned by Grand Real Estates and Company Limited and will be managed by Hilton Hotels Corporation."The new property will become one of the first upscale international brands to operate in the capital Accra. This gives us a tremendous opportunity to establish our brand in an African country that is experiencing strong growth. Accra itself is a key commercial and tourism hub for the country, with a real and growing requirement for upscale hotels. Expansion in Africa is key to our development strategy," said Jean-Paul Herzog, President, Hilton Hotels, Middle East & Africa.Hilton Accra Airport City will become Hiltons ninth property in Africa and has a prime gateway location at Airport City, a new mixed-use development in the heart of upscale Accra. With a focus on the guest experience, from business productivity to time for relaxation and leisure, the new Hilton Accra Airport City has been designed to include the most appealing features for our guests to enjoy their stay; a contemporary exterior design and hotel space, a 160-seat restaurant serving a full array of continental and international cuisine, a main bar with garden terrace, eight meeting rooms and a ballroom. The hotel will also feature an outdoor swimming pool, and a health club and gym.Ramzi Dakmak, Chairman of Grand Real Estates and Company Limited said, "The signing of this agreement with Hilton is undoubtedly another feather in Ghanas developmental cap. It is a clear indicator of the countrys continued economic expansion and we are excited about bringing the first Hilton hotel to Accra that will offer world-class standards. With excellent demand-side fundamentals, we believe the timing is just right for positioning the hotel product we envision in this market."Hilton currently operates eight hotels in Morocco, Algeria, Nigeria, Ethiopia, Kenya, Cameroon and South Africa. Additional Hilton properties are under development in Africa in Equatorial Guinea (Malabo) and Uganda (Kampala).

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