Hilton opens record number of hotels in Q4

Hilton has announced that it opened 132 hotels and approximately 24,000 rooms between October and December 2023, the strongest development quarter in its history.

This number contributed to full-year openings of 395 hotels and approximately 63,000 rooms to achieve net unit growth of 4.9%.

Hilton also continued to strengthen its development pipeline with record 2023 signings of nearly 1,000 hotels representing 130,000 rooms, up 45% from the prior year.

The company’s pipeline is now the largest in its history with nearly 3,300 hotels, totaling more than 462,000 rooms.

Hilton delivered another year of strong construction starts, up 15% over 2022 and approaching pre-pandemic levels.

The company stated that it now has more new rooms under construction than any other hotel company.

According to Hilton, approximately one in every five hotel rooms under construction globally will be a Hilton hotel.

Chris Nassetta, president and CEO, Hilton, said: “Our team is delivering robust results, supported by the power of our brands, our award-winning culture and strong commercial engines. Premium products and exceptional levels of service are driving strong customer demand for our hotels around the world, while better returns are supporting strong owner interest.

“We continue to feel very good about our prior net unit growth guidance of 5.5% to 6.0% in 2024, with strong indications towards the higher end of the range based on the positive momentum we are seeing in signings and construction starts.”

Kevin Jacobs, CFO and president, global development, added: “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.”