The past year proved to be one of the best ever for Hilton, with the lodging company setting historic records for growth. The company added close to 100,000 rooms and 973 hotels, the largest single-year expansion in its over 100-year history and achieving net unit growth of 7.3%.
Hilton strengthened its development pipeline and signed more than 1,430 hotels, totaling 154,000 rooms, in 2024. The company’s pipeline now stands at around 3,600 hotels totaling over 498,500 rooms, a year-over-year increase of 8% in pipeline rooms.
Hilton broke another record in 2024 and began construction on 88,500 rooms, excluding acquisitions and partnerships, the highest in the company’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 set to join the company’s portfolio, the company said in a release.
Hilton has also been solidifying its development pipeline and construction starts worldwide. With the demand for travel going strong, the company is aiming to achieve net unit growth of 6-7% this year, Chris Nassetta, president and CEO, Hilton said.
“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,” said Nassetta said in the release. “Given the strength of our commercial engines, family of brands and global network, we continue to feel good about our growth this year.”
Milestones and New Brands
Hilton’s growth in 2024 was fueled by several key initiatives:
Graduate by Hilton and NoMad Brands: Introduced in spring 2024, these lifestyle brands expanded Hilton’s footprint in university communities and luxury markets globally.
Small Luxury Hotels of the World partnership: This collaboration added hundreds of independent, boutique luxury hotels to Hilton’s luxury portfolio. Anchored by the Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, LXR Hotels & Resorts and Signia by Hilton brands, Hilton’s luxury portfolio now comprises over 500 hotels worldwide. The portfolio is slated to add more hotels this year, including Waldorf Astoria properties in New York, Shanghai and Morocco; Conrad hotels in Hamburg and Athens; and Signia by Hilton Amman.
Spark by Hilton: Since opening its first hotel in September 2023, this premium economy brand under Hilton has now surpassed 100 properties, with locations in the U.K., Canada and Austria and plans to expand further.
LivSmart Studios by Hilton: Launched in 2024, the new long-stay brand is scheduled to open its first property this summer in Kokomo, Ind., with hundreds more in various stages of negotiation.
Global Reach and Record Guests
Hilton debuted its brands in new markets, including in Paraguay, Nepal and Bonaire. With this, Hilton is now present in 140 countries. The company also welcomed more than 224 million guests in 2024, its highest annual total to date.
With more than 8,400 properties worldwide and a strong development pipeline, Hilton’s leadership is confident in sustaining its growth momentum.
“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,” said 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 favorable 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.”