Hotel Online  Special Report
.

advertisement


..
..
Corinthia Hotels International Partners with Frank
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.
 
The announcement was timed to immediately follow Corinthia's gala launch event held in New York on June 28 at the Mandarin Oriental Hotel, to introduce CHI to the North American Travel Industry and press. According to Vella "we are confident that this new relationship with HIG will enable CHI to evaluate in a timely manner, transactions that will allow us to accomplish our goal of expanding Corinthia's base from 20 properties to 50 in prime international locations over the next three years." 
From Left, Karmenu Vella
and Frank Orenstein
Orenstein, with offices in Scottsdale Arizona and Paris, France, said  "HIG is excited about the challenge of expanding an established brand that has an excellent track record of generating significant returns for owners; and is highly respected in the hospitality field for successfully pioneering some of the hottest destinations -- Prague, Budapest, St. Petersburg (Russia), Turkey, and most recently Tripoli -- long before the well known international brands moved in.  There are many areas in the world that would benefit greatly from Corinthia's success strategy and distinct style of hospitality." Mr. Orenstein was instrumental in directing Four Seasons initial growth, expanding Novotel/Sofitel into North America, creating the worldwide brand for Park Plaza Hotels and Resorts, and in advancing HIG's portfolio into Polynesia, Latin America, the Caribbean and Canada.

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.

.
Contact:

HIG
feo@hospitalityinvestors.com
Tel (602 315 8636

www.corinthiahotels.com

.
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


To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.