Hilton Hotels To Manage Hotel In Taupo

EMBARGOED UNTIL 12.00PM TUESDAY 19 May 2009

Hilton Hotels To Manage Hotel In Taupo With Completion Of $55 Million Dollar Project

Taupo, New Zealand – Tuesday 19th May 2009…Hilton Hotels Corporation (Hilton) has signed an agreement to manage the Hilton Lake Taupo on behalf of Triumph Capital, a privately owned New Zealand advisory company. Currently comprising 113 deluxe hotel rooms, suites and apartments, the hotel will be further developed to 149 rooms with the completion of the proposed convention centre and suites. The upscale hotel will be Hilton’s second hotel in New Zealand.

The Hilton Lake Taupo, currently known as the Terraces Hotel, is located close to the centre of town with panoramic views over Lake Taupo and the volcanic mountains. The original hotel opened in 1889 and is now the heritage building that will form the part of the new Hilton Hotel. The area around the hotel is lush, with thermal springs and streams. The existing hotel, which was extensively renovated in 2003, will undergo further major refurbishment to bring the rooms and facilities up to the Hilton standard.

“Lake Taupo is one of the more breathtaking areas of the New Zealand countryside and the Hilton Lake Taupo will represent an exciting addition to our growing portfolio of international destinations,” said Dave Horton, Senior Vice President, Brand Management, Hilton Hotels & Resorts. Once renovated to the legendary Hilton standards and with the addition of new wings to enhance the meetings, conventions and accommodation offering, this property will be a fantastic new addition to the Hilton family of brands in New Zealand.”

Martin Rinck, President Hilton Hotels Asia Pacific commented, "I am pleased that we will be managing a Hilton in one of New Zealand’s most significant leisure and meetings destinations - Lake Taupo. With this exceptional upscale hotel, Hilton will offer leisure and business travellers to New Zealand superior accommodations and services and a central point from which to discover the glorious Lake Taupo area.”
At the completion of the project, Hilton Lake Taupo will feature:

• 149 deluxe full-service rooms, suites and apartments
• Restaurant
• Destination bars
• Ball Room
• Convention and meeting facilities
• Thermally heated pools, fitness centre and flood lit tennis courts

The food and beverage operations at the hotel are run by the Nourish Group and Executive chef Simon Gault. Simon, one of New Zealand’s foremost chefs and restaurateurs brings his talent to the hotel’s Bistro Lago.

The Mayor of Taupo, Rick Cooper, welcomed the development saying, “I am delighted that Hilton has chosen Taupo as the destination for its second hotel in New Zealand. To have a truly global brand like Hilton in our destination will help to introduce Taupo to a wider audience.”

The project funding has been arranged by Triumph Capital, a privately owned advisory company. Brian Fitzgerald, a Director of Triumph Capital, commented that “Taupo is an excellent location for investment of a hotel of this nature with its great proximity to many parts of New Zealand and strong demand for the convention market combined with its world class leisure activities”.

Lake Taupo is a 3 hour drive from Auckland, New Zealand’s largest city and 4.5 hours from Wellington, the capital. Lake Taupo is 46km long and has a surface area similar in size to Singapore. The area is well known as a conference and incentive location and its leisure activities include, trout fishing, hunting, golf, bathing in thermal pools, trekking, horse riding, boating and snow skiing. It boasts some of the world’s best fly fishing rivers and hunting locations, is a close distance to the famous Tongariro crossing trek and has two world-rated golf courses being the Wairakei International Golf Course and the Jack Nicklaus Signature course. Mt Ruapehu has two ski resorts and is New Zealand’s most expansive ski area and is a one hour drive from the Hilton Lake Taupo.

The Hilton Lake Taupo is due to open in the 4th quarter of 2009 with the new convention centre and additional rooms to open in the 2nd quarter of 2010.

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