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In an extraordinary display of growth and resilience, Hilton has announced a historic achievement in the final quarter of 2023, marking it as a year of unparalleled success in the hotel industry. The prestigious hospitality leader shattered its own records by opening a staggering 132 hotels, encompassing approximately 24,000 rooms from October to December. This surge in growth contributed to an impressive annual total of 395 hotel openings, amounting to roughly 63,000 rooms, thus achieving a net unit growth of 4.9%.

This momentous expansion by Hilton not only signifies a rebound from pandemic-era challenges but also sets a new benchmark in the global hospitality sector. The company’s development pipeline, now the largest in its history, features nearly 3,300 hotels totalling over 462,000 rooms. These figures represent a significant 45% increase from the previous year and exceed pre-pandemic levels.

Hilton’s President and CEO, Chris Nassetta, attributes this remarkable growth to the company’s powerful brand portfolio, award-winning culture, and robust commercial engines. He notes that Hilton’s premium products and exceptional service levels drive strong customer demand worldwide while better returns fuel interest among hotel owners. Nassetta’s optimistic outlook for 2024 anticipates a net unit growth of 5.5% to 6.0%, leaning towards the higher end due to the positive momentum in signings and construction starts.

The company’s growth trajectory is bolstered by the introduction of two innovative brands – Spark by Hilton and LivSmart Studios by Hilton. These brands cater to the rising demand in the premium economy and long-stay segments, attracting significant attention from hotel owners eager to capitalize on these growing market segments.

Kevin Jacobs, Hilton’s CFO and President of Global Development, highlights the company’s unique position for long-term growth. The strength of Hilton’s expanding brand portfolio and its premium commercial performance make it a preferred choice for hotel owners. This preference underpins Hilton’s capital-light growth strategy and enhances its network effect, delivering value to all stakeholders.

Hilton’s expansive reach now includes more than 7,500 properties across 126 countries and territories, offering guests diverse travel options. The company averaged over one new hotel daily in its global portfolio throughout 2023. Furthermore, Hilton welcomed a record number of guests – over 213 million travellers – and saw its award-winning loyalty program, Hilton Honors, reach a record membership of more than 180 million members.

This extraordinary year for Hilton underscores the company’s adaptability and strength in the face of global challenges and sets a new precedent for the hospitality industry. Hilton’s strategic expansions and innovative brand introductions are reshaping the landscape of global travel, offering new and exciting opportunities for guests, owners, and stakeholders alike.