LE MERIDIEN Hotels and Resorts is expected to finalise management contracts for hotels in Budapest, Munich and Hamburg within the next two months.
The deals are part of a major expansion drive in Europe, aimed at doubling the international chain’s portfolio to 200 hotels in the next five years.
The project in Budapest involves converting an existing building into a hotel and is expected to be in full operation by early 2001.
Hotels being sought in Munich and Hamburg are due to open in the latter part of the same year. Scandinavia has also been earmarked as part of the expansion.
Le Meridien managing director Bernard Lambert said: “We are looking at projects in Stockholm and Copenhagen, but these are still at an early stage.
“I would expect to have something to announce in about six months time.”
He said the chain was also looking for opportunities in Madrid and Rome, where it currently has hotels under its five-star deluxe brand, Royal Meridien.
Lambert said he was also targeting development in North America, where the chain already has five hotels. Philadelphia, Washington, Los Angeles and San Francisco are all priority locations for future development.
In the Middle East, Le Meridien is in negotiations for properties in Riyadh and Oman.
In the Far East it is looking at opportunities in Taipei and Beijing.
A property in Kuala Lumpur is under construction and due to open in either late 2001 or early 2002.