Hilton Expands Presence Of All Suites Brands, Eyes Growth
Zacks Investment Research | Aug 29, 2019 10:50PM ET
Hilton Worldwide Holdings Inc. (NYSE:H) recently announced the expansion of its All Suits Brands that includes Embassy Suites by Hilton, Homewood Suites by Hilton and Home2 Suites in the airport and urban locations.
Currently, Hilton's brands have nearly 1,075 open properties, where the company opened 33 properties in second-quarter 2019, comprising nine in key airport and downtown areas, two dual-brands, and two Canadian openings. Notably, the All Suites Brands by Hilton have nearly 600 properties in the pipeline.
Expansion Strategy & Solid Brand Position to Drive Revenues
All Suites Brands is consistently trying to expand its presence domestically as well as internationally. The category collectively opened 54 properties in the first half of the year. Overall, in a bid to maintain its position as the fastest-growing global hospitality company, Hilton is continuing to drive unit growth. During the second quarter of 2019, Hilton opened 123 new hotels. It also achieved net unit growth of 15,700 rooms, marking roughly 7% increase from the prior-year quarter.
As of Jun 30, 2019, Hilton's development pipeline comprised nearly 2,490 hotels, with roughly 373,000 rooms across 109 countries and territories including 37 countries and territories. For 2019, the company anticipates net unit growth of 6.5%.
Backed by solid expansion strategies and a strong brand presence, shares of Hilton have gained 28.9% year to date compared with the Zacks Investment Research
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