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Hilton Rides on Unit Expansion, Opens Upscale Hotel in Taiwan
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Hilton Worldwide Holdings Inc. (HLT - Free Report) continues to rely on expansion in order to fortify global presence, and capitalize on the growing demand for luxury and business travel. To this end, the company’s Hilton Hotels & Resorts brand opened an international upscale hotel in New Taipei City. Notably, this marks Hilton’s comeback to Taiwan after 15 years.
The 31-story, 400-roomed hotel lies in the central Banqiao District, in close proximity to shopping and entertainment centers, business districts, and other tourist destinations.
Continual Expansion in Focus
The move underscores Hilton’s absolute focus to expand its brands in both domestic and international markets. To maintain its position as the fastest-growing global hospitality company, Hilton is continuing to drive unit growth.
In the first quarter of 2018, the company achieved net unit growth of 7,100 rooms and witnessed 7% increase from the prior-year quarter. Further, during the second quarter, Hilton opened 123 hotels, taking room count to 17,100. It achieved net unit growth of 15,800 rooms, indicating an 18% increase from the prior-year quarter.
For 2018, the company projects approximately 6.5% net unit growth. It also continues to have more rooms under construction in Europe, the Middle East and the Asia Pacific compared with any other hotel chain. The company expects greater international expansion in 2018.
Countering Competition
We believe that by expanding its brands globally, Hilton is trying to fend off competition from the likes of Marriott (MAR - Free Report) , Choice Hotels (CHH - Free Report) and Hyatt (H - Free Report) . As it is, the hotel industry is highly competitive as major hospitality chains, with their well-established and recognized brands, are continuously expanding their global presence.
Hilton is continuously facing intense competition from both large hotel chains and smaller independent local hospitality providers. Unless the hotel giant counters these competitions with appropriate strategies, it may lose out on market share.
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Image: Bigstock
Hilton Rides on Unit Expansion, Opens Upscale Hotel in Taiwan
Hilton Worldwide Holdings Inc. (HLT - Free Report) continues to rely on expansion in order to fortify global presence, and capitalize on the growing demand for luxury and business travel. To this end, the company’s Hilton Hotels & Resorts brand opened an international upscale hotel in New Taipei City. Notably, this marks Hilton’s comeback to Taiwan after 15 years.
The 31-story, 400-roomed hotel lies in the central Banqiao District, in close proximity to shopping and entertainment centers, business districts, and other tourist destinations.
Continual Expansion in Focus
The move underscores Hilton’s absolute focus to expand its brands in both domestic and international markets. To maintain its position as the fastest-growing global hospitality company, Hilton is continuing to drive unit growth.
In the first quarter of 2018, the company achieved net unit growth of 7,100 rooms and witnessed 7% increase from the prior-year quarter. Further, during the second quarter, Hilton opened 123 hotels, taking room count to 17,100. It achieved net unit growth of 15,800 rooms, indicating an 18% increase from the prior-year quarter.
For 2018, the company projects approximately 6.5% net unit growth. It also continues to have more rooms under construction in Europe, the Middle East and the Asia Pacific compared with any other hotel chain. The company expects greater international expansion in 2018.
Countering Competition
We believe that by expanding its brands globally, Hilton is trying to fend off competition from the likes of Marriott (MAR - Free Report) , Choice Hotels (CHH - Free Report) and Hyatt (H - Free Report) . As it is, the hotel industry is highly competitive as major hospitality chains, with their well-established and recognized brands, are continuously expanding their global presence.
Hilton is continuously facing intense competition from both large hotel chains and smaller independent local hospitality providers. Unless the hotel giant counters these competitions with appropriate strategies, it may lose out on market share.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
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