Grand Wailea Resort will join Waldorf collection
Star-bulletin News Services
Hilton Hotels Corp. said it is acquiring the management contracts for the three hotels, including the Grand Wailea Resort on Maui, to start a chain of luxury hotels using the name Waldorf-Astoria.
Hilton said it will begin managing the resorts this month, including the Arizona Biltmore Resort & Spa in Phoenix. The three hotels will adopt the designation of "The Waldorf-Astoria Collection," but their names will not change, Hilton said yesterday in a statement. The Waldorf name comes from the landmark hotel on Manhattan's Park Avenue the company has owned for more than 50 years.
Using the name gives Hilton another luxury brand as demand for high-end travel increases. Room-rate growth for luxury hotels has been faster than any other price segment since 1997, according to New York-based consulting firm PricewaterhouseCoopers LLP.
Hilton founder Conrad Hilton, who bought the art deco hotel in 1949, called the Waldorf "the greatest of them all." It opened in 1931 as the largest hotel in the world. The Waldorf introduced room service and was home to three five-star generals, including Dwight D. Eisenhower. Hilton will continue to open hotels under the Conrad name, another luxury chain.
Hilton will expand the number of hotels under the Waldorf name by adding the brand to existing hotels and opening new hotels and residential developments.
The company last month agreed to acquire the lodging business of the U.K.'s Hilton Group Plc for $5.71 billion to reunite the businesses and expand outside the U.S. for the first time in 40 years.
Bloomberg News contributed to this report