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| Journal: TWUK | Section: |
| Title: | Issue Date: 15/05/00 |
| Author: | Page Number: 2 |
| Copyright: Other |
The companies said they expect other hoteliers to join the venture ahead of its launch, which is scheduled for the fourth quarter of this year.
The initial inventory will be limited to Europe but it is likely to be expanded to include the partners' overseas properties in due course.
The initial investment totals around $18m and the project will be headed by managers drawn from all three companies.
Hilton International chief executive David Michels said: "While the percentage of our hotel bookings through the Internet is still very small, there is no question that this medium will grow over the next two to three years towards 15% of our total business.”
Hilton stated it would continue to supply inventory to independent Web sites, including lastminute.com, as well as the content on the new joint venture site.
Forte and Accor also confirmed they would maintain links with third-party on-line operators.