Hilton rounded out 2023 with the strongest development quarter in its history, opening a total of 132 hotels and approximately 24,000 rooms between October and December.
The last quarter brought Hilton’s full-year openings to 395 hotels – averaging more than one new hotel per day – and approximately 63,000 rooms, reaching net unit growth of 4.9%.
Hilton also achieved record signings in 2023, boosting its development pipeline by nearly 1,000 hotels, representing 130,000 rooms, up 45% from the year prior and well ahead of pre-pandemic levels.
The company’s pipeline is now the largest in its history with nearly 3,300 hotels, totalling more than 462,000 rooms.
“Our team is delivering robust results, supported by the power of our brands, our award-winning culture and strong commercial engines,” said Hilton President and CEO, Chris Nassetta.
“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.”
Construction starts were up 15% over 2022 with Hilton having more new rooms under construction than any other hotel company.
“Approximately one in every five hotel rooms under construction globally [are] slated to join the company’s portfolio,” Hilton said in a statement.
The recent addition of two new brands – Spark by Hilton and LivSmart Studios by Hilton – to Hilton’s portfolio is helping to drive growth as owners seek to address demand 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 Hilton CFO and President, Global Development, Kevin Jacobs.
“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.
Throughout 2023, Hilton welcomed more guests than ever before with more than 213 million travellers staying at its properties globally.