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MONTREAL-The Hilton Hotels Corp. is joining with locally-based Monit Investments to develop the Waldorf-Astoria Hotels & Residences Montreal. The mixed-use property, which would cost about $200 million, will include 250-rooms and 76 condos, says the Beverly-Hills-based Hilton.

Touching off the famous New York City landmark hotel, Hilton has built four similar properties, and has developments in the works for eight more sites, including here. This is the company’s first foray into Canada, a company spokesman tells GlobeSt.com. “We want to go to cities that are fresh and exciting, and Montreal was a good fit,” he says. “We like to have locations in gateway cities that have a distinct sense of place, history and culture.”The market has been good to high-brow hotel usage, the spokesman says. “The interest in this brand is exceptional,” he says. “Our company is focused on luxury. The growth prospects are enormous.” The new properties are going into such areas as Rome and Jerusalem, he says. “This is a world-wide brand,” the spokesman says.The new property here is supposed to open by summer 2011. The 32-story tower will also feature 15,000 sf of ballroom and meeting space, restaurants, bars and a spa and fitness center. The address is 1500 Sherbrooke St. W.

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