Hilton Hotels announced plans to franchise what...

Hilton Hotels announced plans to franchise what it called moderately priced, first-class hotels. Under the project, called “CrestHil by Hilton,” the company will develop 156-room, two-story facilities designed to be franchised to independent owner/operators. Construction has not begun yet, but the first CrestHil openings are scheduled for next year. Hotel industry analyst Steven Eisenberg of Bear, Stearns & Co. called the announcement “an important statement by Hilton that it believes the moderately priced facilities are still in demand.”