Tuesday, January 23, 2024
In its history, Hilton concluded 2023 with its most robust development quarter, surpassing any other quarter by opening 132 hotels and approximately 24,000 rooms between October and December 2023. This contributed to a total of 395 hotels and around 63,000 rooms opened throughout the year, achieving a net unit growth of 4.9%.
Notably, Hilton fortified its development pipeline with record 2023 signings, marking almost 1,000 hotels and 130,000 rooms—a 45% increase from the previous year and well above pre-pandemic levels. The company’s pipeline now stands as its largest ever, boasting nearly 3,300 hotels and over 462,000 rooms.
Hilton also saw a 15% increase in construction starts compared to 2022, nearing pre-pandemic levels. With approximately one in every five hotel rooms under construction globally set to join Hilton’s portfolio, the company leads in new rooms under construction.
Chris Nassetta, President and CEO of Hilton, attributed these robust results to the strength of the company’s brands, its award-winning culture, and robust commercial engines. He expressed confidence in achieving the previously guided net unit growth of 5.5% to 6.0% in 2024, leaning toward the higher end of the range based on positive momentum in signings and construction starts.
Hilton’s growth potential is further enhanced by the addition of two new brands to its portfolio—Spark by Hilton and LivSmart Studios by Hilton—catering to the premium economy and long-stay segments, respectively.
Kevin Jacobs, CFO and President of Global Development at Hilton, highlighted the company’s well-positioned status for long-term growth, emphasizing the preference of hotel owners to collaborate due to the growing portfolio of brands and strong commercial performance.
By the end of 2023, Hilton boasted over 7,500 properties in 126 countries and territories, expanding travel options for guests worldwide. The company also recorded a historic milestone of hosting over 213 million travelers at Hilton properties, with its loyalty program, Hilton Honors, ending the year with a record membership exceeding 180 million members.
Sunday, April 28, 2024
Sunday, April 28, 2024
Sunday, April 28, 2024
