Skift Take
Hilton's decision to focus on its luxury portfolio may be significant. However, with the pent-up demand curve now flattening, it seems the perfect time for the brand to light up the "Spark."
Hilton hopes to have 1,000 hotels operating in Asia Pacific by 2025 and sees opportunity at all tiers, but particularly in luxury brands and entry-level hotels.
The brand currently operates 627 hotels under 12 brands in 22 countries and territories in Asia-Pacific.
“Hilton is the fastest-growing hospitality company in Asia Pacific, and we continue to eye further long-term growth,” said Ben George, senior vice president and commercial director, Asia Pacific.
In its latest earnings call in February, Hilton noted that Asia-Pacific region, excluding China, saw significant improvement with revenue per available room rising 8 percent compared to 2019.
This performance had been largely driven by strength in Japan, following borders reopening, Kevin Jacobs, Hilton’s chief financial officer and president, global development, said during the earnings call.
The revenue per available room in China was down 37 percent compared to 2019.
George also said that the recent launch of the economy brand Spark by Hilton, which began in the U.S., enables the group to explore further growth opportunities in Asia Pacific in due course.
Asia Pacific and LuxuryWitnessing a steady growth of its luxury portfolio in Asia Pacific, Hilton last year had more than 10 landmark luxury signings, including the entry of Waldorf Astoria in Australia, Malaysia and Vietnam.
The expansion of the Conrad brand has been marked with the signing of three new properties in