Chapter 2 The Story of Struggle Madrid
DOI: 10.23912/9781911396949-4329 | ISBN: 9781911396949 |
Published: Dec 2019 | Component type: chapter |
Published in: The Story of Hilton Hotels | Parent DOI: 10.23912/978-1-911396-7-96-3889 |
Abstract
The first in Europe - There is archival evidence suggesting that the Hilton Hotels Corporation had been looking for a project in Europe for a while (see Exhibit 2.1). The company was, by the end of the War, strongly represented from coast to coast in the United States and could have easily been considered a leader in luxury hospitality sector there. With the opening of the Caribe Hilton, the International division of the company was initiated, and Hilton was prepared to venture out further. Strand (1996) recalls that the main Hilton International’s development goal was to operate in Europe, as this was where they saw the greatest potential in terms of both business and leisure travel. Also, it appears that it was in American foreign policy’s interest to strategically distribute American businesses’ foreign direct investment on the Old Continent. Allegedly, the Economic Cooperation Administration, a US government agency set up to administer the Marshall Plan, contacted Hilton Hotels in the early 1950s to announce that the ECA was “very anxious to increase first class accommodations in several of the capitals of Europe†and, to fulfil this potential, was willing to provide both loan guarantees and capital to encourage construction. Having such an encouragement, Hilton could look for an appropriate project opportunity. What was certain, was that the hotel would need to be located in one of the capital cities and would be constructed using mainly local funding.
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Contributors
- Barbara Czyżewska, University of West London (Author) https://orcid.org/0000-0001-9700-5139
For the source title:
- Barbara Czyżewska, University of West London (Author) https://orcid.org/0000-0001-9700-5139
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Czyżewska, 2019
Czyżewska, B. (2019) "Chapter 2 The Story of Struggle Madrid" In: Czyżewska, B. (ed) . Oxford: Goodfellow Publishers http://dx.doi.org/10.23912/9781911396949-4329
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