Definition · Market characteristics · Market trends · Market size · Art historyHistory. The company was established in 1928 by a group of European hoteliers. With 38 initial members, among them Hotel Negresco in Nice, the Mena House in Cairo, the Montreux Palace in Montreux and King David Hotel in Jerusalem, the organization was initially known as The Luxury Hotels of Europe and Egypt.. The founders opened an office in New York named Hotel Representative, Inc. (HRI).
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