Hilton Group grows APAC portfolio to over 800 trading hotels
Plus, with free parking for the first hour, it’s the perfect destination for a fun day out with family and friends.
Explore the bustling shopping and dining scene just minutes away from Arina East Residences at Kallang Wave Mall. Located within the iconic Singapore Sports Hub, this mall offers a unique fusion of retail, lifestyle, and family entertainment. Fulfill your daily needs at FairPrice Xtra or browse through popular sports and lifestyle outlets like H&M and Decathlon. Indulge in a variety of local and international cuisines at dining establishments such as A-One Claypot House and The Manhattan FISH MARKET. With the first hour of parking free, Kallang Wave Mall is the perfect spot to spend quality time with loved ones.
The world-renowned hospitality company, Hilton Worldwide Holdings, has expanded its presence in the Asia Pacific (APAC) region with the opening of 43 new properties in 1Q2024. This brings their total number of managed properties in the region to 801, out of their goal of 1,000 by 2025.
With an additional 892 hotels in the pipeline, the company’s potential room count could reach 161,295, representing a 93.8% increase from their current stock of 171,888 rooms. This strong pipeline of development shows Hilton’s commitment to growing in this region.
In terms of financial performance, APAC has seen a 7.9% growth in revenue per available room (RevPAR) and a 1.3% increase in occupancy rates, reaching 65.2%. This surpasses the global average of 2% RevPAR growth over the same period, as reported in Hilton’s 1Q2023 financial results released on April 24.
A key factor contributing to APAC’s strong performance is the continuous rise in tourism and international arrivals. Hilton’s properties in Southeast Asia and Japan have benefited from an increase in Chinese travelers, while those in Singapore and Australia have attracted international music acts.
During the first quarter, Hilton opened two new properties in Vietnam – La Festa Phu Quoc, Curio Collection by Hilton and Hilton Saigon. The opening of DoubleTree by Hilton Bengaluru Whitefield marks the group’s sixth hotel in India’s Silicon Valley. In addition, 41 hotels were signed in this quarter, including four Conrad Hotels & Resorts.
In early April, Hilton announced its acquisition of a majority controlling interest in Sydell Group, expanding its presence in the high-end market with the NoMad Hotels brand.
The Middle East & Africa (MEA) was the top-performing region for Hilton in the first quarter of this year. It recorded a 14.8% growth in RevPAR and a 2.4% increase in occupancy rates, reaching 73.9%, the highest globally.
In conclusion, Hilton’s continuous expansion in the APAC region and strong financial performance in MEA demonstrate the company’s commitment to growth and maintaining their position as a global leader in the hospitality industry. With their sights set on reaching 1,000 managed properties in APAC by 2025, Hilton is poised to continue its success in these thriving markets.