Chartwell Leisure to Build 20 Hilton Hotels

Chartwell Leisure Inc. said it will build, own and manage 20 Hilton Garden Inn hotels through a $200-million, three-year agreement with Hilton Hotels Corp.’s franchising arm. Construction of the first inn will start soon at the Albuquerque International Airport, the New York-based company said. Chartwell, which operates about 130 hotels, also said Beverly Hills-based Hilton approved the conversion of Chartwell’s 207-room San Diego Travelodge to a full-service Hilton hotel. Chartwell said it plans to spend $4 million on renovating the property, which should be completed by this summer. Chartwell shares rose $1.25 to close at $13.625 on Nasdaq, and Hilton shares gained 37.5 cents to close at $26.625 on the NYSE.