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Hilton ended last year with a bang. The hotelier opened 132 hotels and approximately 24,000 rooms between October and December 2023.
Its Q4 additions brought the totals for the year up to 395 new hotels with around 63,000 rooms. Hilton’s development pipeline saw a record number of 2023 signings with nearly 1,000 hotels representing 130,000 rooms in the works. This is up 45% from the prior year and well ahead of prepandemic levels. The company’s pipeline is now the largest in its history with nearly 3,300 hotels being planned (more than 462,000 rooms).
The company’s growth opportunities are increased further by the recent addition of two new brands: Spark by Hilton (the first one launched in Mystic, CT in October) and LivSmart Studios by Hilton. These brands are driving strong demand for hotels in both the premium economy and long-stay markets.
Kevin Jacobs, CFO and President, Global Development at Hilton, said:
Hilton’s development results continue to be an indicator of how well-positioned we are for long-term growth. Hotel owners choose to work with us because of the strength of our growing portfolio of brands and our premium commercial performance. This owner preference drives our capital light growth and fuels our network effect, which helps us continue to deliver value for all our stakeholders.”
Hilton operates more than 7,500 properties in 126 countries. In 2023 it welcomed over 213 million travelers (with 180 million registered for its loyalty program, Hilton Honors).
Anthony’s Take: I have been enjoying some of the newest additions to Hilton’s portfolio, especially its luxury brands like LXR Hotels & Resorts. It’s great to see so many new properties in the works.
(Image Credits: Hilton.)
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