Hilton International Adds Two Hotels In Central America

Agreement Continues Brand's Expansion in the Region

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. October 14, 2008

MIAMI, FL, September 13, 2005. Hilton International today signed a franchise agreement with Princess Hotels & Resorts Corporation, for the conversion of two properties in Central America: one in San Pedro Sula, Honduras and another in Managua, Nicaragua. The agreement completes a three-property deal that began with the Hilton Princess San Salvador opening in August 2004.

The 120-room Princess San Pedro Sula, to be renamed Hilton Princess San Pedro Sula, is located in the country's main commercial district, just six miles from the international airport. The hotel features wireless high-speed Internet access in guest rooms, executive lounge, five conference rooms with wireless high-speed Internet, business center, restaurant, English-style pub/bar, outdoor swimming pool, and health club. The property is scheduled to begin operations as the Hilton Princess San Pedro Sula in early 2006.

The 104-room boutique style Princess Managua, to be renamed Hilton Princess Managua, is ideally situated in Managua's business and financial district, just steps from restaurants, shopping, and entertainment. Featuring wireless high-speed Internet access in guest rooms, executive lounge, restaurant, English-style pub/bar, five meeting rooms with wireless high-speed Internet, business center, swimming pool, and health club, the Hilton Princess Managua is scheduled to begin operations in early 2006.

"We are committed to expanding the Hilton brand in Central America and franchise growth is part of Hilton International's strategy," commented Simon Barlow, president for Hilton International, The Americas. "Our successful partnership with Princess Hotels & Resorts Corporation marks an important step in our expansion efforts and we look forward to working with such well-regarded hoteliers."

"Joining the Hilton Family in 2004 with the Hilton Princess San Salvador brought tremendous benefits to our company, clients and employees alike," stated Eric Schleusz, president for Princess Hotels & Resorts Corporation. "We are now very pleased to announce the addition of two new hotels in the region that will bear the Hilton flag, and we have no doubt that their conversion will be yet another milestone in this Central American hospitality business."

With a population of about 486,000, San Pedro Sula, Honduras, is the second largest city in Honduras and known as the economic center and industrial capital of the country. Visitors can take in the sights at the city's museum of archeology and history, as well as visit the municipal palace, cathedral, and Guamilito arts and crafts market.

Managua, capital of Nicaragua and the second largest city in Central America, has a population of about 1.6 million. A vibrant and exciting destination, tourists can enjoy the city's commercial center with bars, restaurants, and shopping, as well as visit casinos, art gallery, and national park. And, visitors are offered one unique feature; the city has no street names or addresses.