>

>

Hilton Group grows APAC portfolio to over 800 trading hotels

By Nicholas Lam

/ EdgeProp Singapore |

April 25, 2024 6:00 AM SGT

Global hospitality company, Hilton Worldwide Holdings, opened 43 more properties in Asia Pacific (APAC) in 1Q2024, pushing their presence in the region to 801 properties under management. This is in line with their goal of managing over 1,000 hotels in APAC by 2025.

An additional 892 hotels are in the pipeline, representing 161,295 potential new rooms. It is 93.8% of their current stock of 171,888 rooms.

The region saw a 7.9% growth in revenue per available room (RevPAR) and an increase of 1.3% in occupancy rates to 65.2%. APAC’s growth in RevPAR exceeded the global average of 2% over the same period, says Hilton in its 1Q2023 financial results released on April 24.

Read also: Hilton RevPAR up 41.6% y-o-y in 4Q2023, with biggest hotel pipeline in APAC this year

APAC’s strong performance was attributed to a continued rise in tourism and international arrivals. Hilton’s hotels in Southeast Asia and Japan attracted increased travel from Chinese travellers, while their properties in Singapore and Australia benefitted from major international music acts.

Over the quarter, Hilton opened its first La Festa Phu Quoc, Curio Collection by Hilton and Hilton Saigon in Vietnam. DoubleTree by Hilton Bengaluru Whitefield marked Hilton’s sixth hotel in India’s Silicon Valley. A further 41 hotels were signed in the quarter, including four Conrad Hotels & Resorts.

In early April, Hilton announced its acquisition of a majority controlling interest in Sydell Group to expand the NoMad Hotels brand in the high-end market.

The Middle East & Africa was the best-performing region for the group so far this year. It recorded a 14.8% growth in RevPAR and a 2.4% increase in occupancy rates to 73.9%, the highest globally.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Novo Place hits 88.1% as 137 units snapped up in second balloting

2

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

3

Is it a Good Deal?: A duplex penthouse in Sentosa sold for a loss of $1.93 million

4

Record-breaking 1,000 HDB resale flats hit $1 mil in 2024

5

JadeScape penthouse sold for $4.35 mil profit

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00