I just checked the Conrad web site's new properties listing, and it says this property will open TBD.
http://conradhotels1.hilton.com/en/c...d/newHotels.do
Typically a new build Hilton-branded property specifies an opening date--and you can readily add two years to that.
To be determined is Hilton speak for "not for a very, very long time, if ever".
But there is an alternative if you're into the Hilton brand--the Hilton Vilamoura:
http://www.tripadvisor.com/Hotel_Rev...a_Algarve.html