Hilton Group plans to build 32 new hotels

The Hilton Group plans to open hotels in 23 countries as it recorded a strong close to 2000.

During 2000 Hilton International's expansion accelerated with 12 new hotels opened.

It now plans to establish another 32 in places such as Moscow, Bangalore and Sofia.

Negotiations for the sale of £300m of UK hotel real estate - while maintaining the Hilton flag - is at an advanced stage. The UK casino division was sold to Gala Group Holdings for £236.7m.

The profits before tax and exceptionals was £301.2m, compared to £305m in 1999, although the group stresses that the year finished better than it started.

David Michels, Group Chief Executive, says: "The year 2000 has been one of great change in people, product and delivery for the group. We have seen a much improved second half compared to the first half, delivered primarily because of these changes. This bodes well for the future.

"As well as a good marketplace and a dedicated contribution from our people, Hilton International began to see the benefit of £700m of capital investment over the last two years. We present to our marketplace a hotel estate in an exceptionally attractive condition."

In 2000, 12 new Hilton hotels were opened. A further 32 new hotels in 23 countries are in the pipeline to open in the next two years including six in the first quarter of 2001.

The UK retail betting business - Ladbrokes - had a good year with strong margins, despite the high number of cancelled races.

But the telephone betting businesses had a very disappointing year. Mr Michels says this was partly due to the set up costs of a much enlarged Gibraltar operation whilst retaining the existing UK telephone betting centres.