New Hilton in Budapest // 08/31/2007

Hilton Hotels Corporation has signed a management agreement with Rupphegyi Ingatlanfejleszto Kft to open the new Hilton Residence Buda Hills Budapest in early 2010. The move reflects the ongoing expansion of the hotel group across Europe and will compliment Hilton’s 2 existing Hungarian hotels - Hilton Budapest and Hilton Budapest WestEnd. A third property, the 216 rooms Hilton Visegrad, is due to open in January 2009. Welcoming the announcement, Wolfgang Neumann, President of Hilton Hotels Europe, said: Budapest’s position as a key cultural destination and commercial hub for Eastern and Central Europe represents an exciting opportunity for Hilton to introduce its world-class portfolio of quality hotels across the country. With two properties already operating in Budapest and a third hotel to open in early 2009, we believe the strong growth in demand for quality accommodation by corporate and leisure markets alike, has created an extremely positive environment within the Hungarian hotel sector.

The Hilton Residence Buda Hills Hotel will offer 120 apartments (73 one bedroom; 14 two bedroom and 33 studio apartments) and feature a lobby bar, meeting rooms and a gym facility. Guests will also have the use of an adjacent restaurant and spacious Spa and Health Club.

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