Hilton Worldwide Holdings Inc. (HLT - Free Report) is focused on unit growth in a bid to maintain its position as the fastest-growing global hospitality firm. The company recently announced the opening of Tru by Hilton Columbia Greystone in Columbia, SC.
The 117-room, four-story hotel has mobile check-in, digital key, super-fast free WiFi, remote printing, a social media wall and lobby tablets. Tru by Hilton Columbia is also part of Hilton Honors, the award-winning guest-loyalty program. Hilton Honors members will be awarded extra benefits if they book directly through ideal Hilton channels.
In a bid to sustain its position as the fastest-growing global hospitality company, Hilton continues to drive unit growth. During third-quarter 2019, Hilton opened 118 hotels. It also achieved net unit growth of 15,600 rooms, marking an improvement of roughly 7% from the prior-year quarter.
As of Sep 30, 2019, Hilton's development pipeline comprised nearly 2,530 hotels, with roughly 379,000 rooms throughout 111 countries and territories. This includes 35 countries and territories where it currently does not have any operational hotels. Moreover, 205,000 rooms in the development pipeline were located outside the United States and 198,000 rooms were under construction.
Notably, the company continues to make great progress in its luxury development strategy, anticipating double-digit luxury growth in the next several years. During the third quarter, the company opened new hotels namely Conrad Tianjin, Conrad Shenyang, Waldorf Astoria Los Cabos Pedregal and the Biltmore Mayfair, LXR, and re-branded the Conrad New York Midtown. Hilton’s new brands including Home2 Suites, Tru by Hilton, and Tapestry Collection are also gaining momentum globally.
Driven by an expanding global brand presence, shares of Hilton have gained 56.4% in a year, outperforming the industry’s growth of 29.9%.
Hilton, which share space with Hyatt Hotels Corporation (H - Free Report) , Marriott International, Inc. (MAR - Free Report) and Choice Hotels International, Inc. (CHH - Free Report) , has a Zacks Rank # 3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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