McLEAN, Va. — Hilton set historic records for growth in 2024, adding 973 hotels and nearly 100,000 rooms and achieving net unit growth of 7.3 per cent.
Hilton also strengthened its development pipeline, signing more than 1,430 hotels representing 154,000 rooms in 2024. The company’s pipeline now stands at roughly 3,600 hotels totalling more than 498,500 rooms, a year-over-year increase of eight per cent in pipeline rooms.
In 2024, construction started on 88,500 rooms, excluding acquisitions and partnerships, the highest level of construction starts in Hilton’s history. Hilton continues to have more new rooms under construction than any other hotel company with approximately one in every five hotel rooms under construction globally slated to join the company’s portfolio.
“We’re incredibly proud of our growth last year, driven by the performance of our brands and our team’s commitment to delivering the very best stays for our guests and impressive returns for owners,” says Chris Nassetta, president and CEO, Hilton. “Given the strength of our commercial engines, family of brands, and global network, we continue to feel good about our growth this year. Our development pipeline and construction starts are strengthening around the world, and demand for travel remains strong, leading to increased confidence in our expectations for net unit growth of six to seven per cent in 2025.”
2024 milestones include:
- Lifestyle brands Graduate by Hilton and NoMad joined Hilton’s portfolio in spring 2024, expanding its development opportunities in university communities
- Partnering with Small Luxury Hotels of the World (SLH) which added hundreds of independently-minded luxury hotels to Hilton’s luxury portfolio
- Spark by Hilton opened its first hotel in September 2023 and has now surpassed 100 trading hotels, including locations in the U.K., Canada and Austria, with plans to further expand the brand in new markets around the world
- Long-stay brand LivSmart Studios by Hilton, launched in 2023, expects to open its first hotel this summer in Kokomo, Indiana, with hundreds more in various stages of negotiation
“Our diversified and strategic approach to development continues to generate robust growth, bringing us closer to our goal of serving any guest, for any stay occasion, anywhere in the world,” says Kevin Jacobs, CFO and president, Global Development, Hilton. “Signings and construction starts increased meaningfully in 2024, giving us great momentum heading into the new year. With approximately half a million rooms in our development pipeline, coupled with favourable supply and demand fundamentals more broadly and a growing global middle class, we’re confident in our ability to deliver sustained growth in 2025 and beyond.”