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Hilton’s Q4 RevPAR surged 41.6%, with significant expansions in APAC and strategic partnerships enhancing its global presence.
In its fourth quarter and full-year earnings, Hilton closed another year of growth with Q4 RevPAR up 41.6% on year, with Greater China RevPAR up +72.8% compared to the same period in 2022. Full-year APAC RevPAR grew 58.7% versus 2022. Occupancy remains driven by continued growth in leisure travel, which is being increasingly supported by rising corporate and group demand. Beijing, Tokyo and Kuala Lumpur stood out as Hilton’s best-performing markets.
In 2023, the company saw a record-breaking addition of 143 hotels to its portfolio, with 45 new properties opened in the fourth quarter alone – the most in any quarter in its history. Recent openings included Hilton Nanjing Niushoushan, Conrad Singapore Orchard and Umana Bali, LXR Hotels & Resorts, which also marked the brand’s debut in South East Asia. In a further boost to its network effort, Hilton announced an exclusive strategic partnership with Small Luxury Hotels of the World that will offer its customers access to additional luxury properties in hundreds of new destinations.
Hilton has surpassed 760 trading hotels in Asia Pacific and is well on course to exceed 1,000 by 2025. With its largest-ever pipeline of 861 hotels, Hilton remains the fastest-growing hospitality company in the region, with almost 1 in 4 hotel rooms under construction bearing the Hilton flag.
Other key developments in 2023 included:
- The celebration of its 60th milestone anniversary in Japan;
- The growth in Greater China with its 600th opening, 50th Hilton Garden Inn hotel and expansion of its franchise model into the upscale full service segment via its DoubleTree by Hilton brand;
- The launch of a new regional room prototype for its upscale focused service brand, Hilton Garden Inn, in Thailand and Australia;
- Hilton was named the #1 World’s Best Workplace by Fortune and Great Place to Work – a first for a hospitality company. Hilton was also recognized as Asia’s top hospitality company to work for, for the seventh consecutive year.
George, in his capacity as an intern, diligently oversees the flow of news, assists in the publication of content, and delves into the strategies of social media distribution. He is currently pursuing his studies in Business Administration at the Athens University of Economics and Business.
