Company positioned for accelerated growth in 2024, supported by largest‑ever development pipeline and launch of two new brands
MCLEAN, VA. – Hilton ended 2023 with the strongest development quarter in its history, opening more new rooms than during any other quarter. The hospitality leader opened 132 hotels and approximately 24,000 rooms between October and December 2023, contributing 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 and meaningfully ahead of pre-pandemic levels. 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. Hilton now has more new rooms under construction than any other hotel company with approximately one in every five hotel rooms under construction globally slated to join the company’s portfolio.
“Our team is delivering robust results, supported by the power of our brands, our award-winning culture and strong commercial engines,” said Chris Nassetta, president and CEO, Hilton. “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.”
The company’s growth opportunities are further boosted by the recent addition of two new brands to its portfolio – Spark by Hilton and LivSmart Studios by Hilton – which is driving strong activity with owners looking to tap into the growing demand for hotels in the premium economy and long-stay segments.
“Hilton’s development results continue to be an indicator of how well-positioned we are for long-term growth,” said Kevin Jacobs, CFO and president, global development, Hilton. “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 ended 2023 with more than 7,500 properties in 126 countries and territories, expanding options for guests nearly anywhere they want to travel. On average, more than one new hotel per day was added to Hilton’s global portfolio.
The company also welcomed more guests in 2023 than ever before with more than 213 million travelers staying at Hilton properties around the world. Hilton Honors, the company’s award-winning loyalty program, ended the year with record membership of more than 180 million members.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
