"The Mexican market represents one of the most important business opportunities for Hilton in Latin America," said Nelson Diaz, vice president franchise development, Mexico & Latin America - Hilton Hotels Corporation. "Mexico's industrial and enterprise activities and its geographic location makes the country an ideal place for new industrial developments and hotel expansion."

The signed agreement outlines the construction of five Hilton Garden Inn hotels in the cities of San Luis Potosi, Leon, Queretaro, Mexico City and Puebla, which will add 900 new guestrooms to the hotel chain. Construction of the first hotel will begin next year in San Luis Potosi with an opening scheduled in 2004.

According to Jorge Abud, chairman of Grupo Hotelero Azteca, "This joint venture will significantly contribute to place Hoteles Azteca as one of the main forces of the hospitality industry in our country and show the confidence that private enterprises have in the stability of the Mexican economy."

The Hilton Garden Inn brand has a portfolio of more than 150+ hotels located throughout Mexico, the United States and Canada and is positioned as the mid-priced brand of Hilton Hotels Corporation targeted to the growing segment of value-conscious business and leisure travelers who are looking for a home-like atmosphere. Hilton Garden Inn hotels feature a signature glass-walled pavilion; a Pavilion Pantry(R) with a selection of refrigerated, frozen and microwaveable packaged items, and sundries; a restaurant; a comfortable lounge area with a television and fireplace; a fitness center; swimming pool and whirlpool; and an on-site guest laundry facility.

Hilton Hotels Corporation is recognized internationally as a preeminent hospitality company. The Beverly Hills, Calif., based company develops, owns, manages or franchises more than 2,000 hotels, resorts and vacation ownership properties.