Advertisement
Singapore markets closed

  • Straits Times Index

    3,410.81
    -29.07 (-0.85%)
     

  • Nikkei

    40,912.37
    -1.28 (-0.00%)
     

  • Hang Seng

    17,799.61
    -228.67 (-1.27%)
     

  • FTSE 100

    8,203.93
    -37.33 (-0.45%)
     

  • Bitcoin USD

    56,480.30
    +2,068.99 (+3.80%)
     

  • CMC Crypto 200

    1,175.54
    -33.15 (-2.74%)
     

  • S&P 500

    5,567.19
    +30.17 (+0.54%)
     

  • Dow

    39,375.87
    +67.87 (+0.17%)
     

  • Nasdaq

    18,352.76
    +164.46 (+0.90%)
     

  • Gold

    2,399.80
    +30.40 (+1.28%)
     

  • Crude Oil

    83.44
    -0.44 (-0.52%)
     

  • 10-Yr Bond

    4.2720
    -0.0830 (-1.91%)
     

  • FTSE Bursa Malaysia

    1,611.02
    -5.73 (-0.35%)
     

  • Jakarta Composite Index

    7,253.37
    +32.48 (+0.45%)
     

  • PSE Index

    6,492.75
    -14.74 (-0.23%)
     

Hilton to open three new hotels in China, launches premium economy brand Spark

Cecilia Chow
·1-min read


Asia’s largest Conrad hotel, with 728 rooms, opened in Shanghai in January 2022 (Photo: Conrad Shanghai website)

SINGAPORE (EDGEPROP) - With China reopening in January after three years, Hilton Worldwide Holdings announced on Feb 10 that it had signed three new properties in three major cities – Xi’an, Chengdu and Nanjing – further growing its portfolio of luxury hotels there.

In recent years, Hilton expanded to Hangzhou and Jiuzhaigou. Asia’s largest Conrad hotel, with 728 rooms, opened in Shanghai in January 2022.

“China is a strategic market for our luxury growth in Asia Pacific,” says Nils-Arne Schroeder, vice president of luxury, Asia Pacific, Hilton. “We are always looking for like-minded partners to expand our luxury brands presence in the right destinations. The signing of three Conrad hotels in Xi’an, Chengdu and Nanjing signals our optimism for the future of luxury hospitality in China.”

ADVERTISEMENT

Hilton also launched a new premium economy brand, Spark by Hilton, in January 2023. The New York Stock Exchange-listed hospitality group reported its 4Q2022 results on Feb 9, which saw net income of US$333 million for the quarter, and US$1.257 billion for the full year. Revenue per available room (RevPAR) increased 24.8% and 42.5% y-o-y for 4Q2022 and the entire year, respectively.

In 4Q2022, Hilton’s development pipeline expanded by 24,400 new rooms, bringing the tally to 416,400 as of Dec 31, 2022. Another 17,700 rooms were added to Hilton's system in 4Q2022, resulting in 48,300 additional rooms for the full year.

Read also: Hotel RevPAR expected to rebound in 2022 and climb more gradually in 2023

See Also: