Often known throughout the world for their style and class, the Hilton Hotels corporation is planning on building one of their hotels within Jerusalem.
But instead of establishing one of their regular building inside the holy city, Hilton is instead going to erect a prestigious brand that has only been constructed in three countries.
(Globes Online) IPC Jerusalem Ltd., a joint venture Hilton Hotels Corp. and IPC US REIT (TSX:IUR), controlled by Canada's Reichman family, has signed a management agreement to manage Jerusalem's Palace Hotel under the Waldorf Astoria brand. IPC is investing $100 million in renovating the historic building, which will have 220 rooms and suites and 30 residential apartments in an adjacent building. [...]
Hilton Hotels has 2,645 hotels worldwide, including two in Israel. The Waldorf Astoria brand, named for the original legendary hotel in New York, is the Hilton's most prestigious brand. There are five Waldorf Astoria hotels in the world, four in the US and one in Saudi Arabia. The decision to establish the brand in Jerusalem is a vote of confidence in Jerusalem by Hilton.
With tourism in Israel rising (especially over the holidays), Hilton's addition to Jerusalem should help compliment Israel's capital (that is, if you can afford it. ;-))
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