Hilton to Franchise 100 Hotels in Expansion

Hilton Hotels Corp. said it plans to franchise about 100 Hilton Residential Suite properties by 2004 as it seeks to expand its presence in different segments of the lodging business. Hilton’s Residential Suite hotels will be aimed at guests who stay a week or more, such as those attending training seminars or relocating to a new city. Beverly Hills-based Hilton, which owns and operates primarily large, full-service properties, also is expanding its chain of Hilton Garden Inn hotels, no-frills franchise properties that appeal to budget-conscious travelers. Hilton shares rose 6 cents to close at $14.06 on the NYSE.