Hilton reports record expansion in 2024, adding nearly 100,000 rooms

The company also expanded its development pipeline, signing agreements for more than 1,430 hotels representing 154,000 rooms. Hilton’s pipeline now includes approximately 3,600 hotels, totalling more than 498,500 rooms—an 8 per cent year-over-year increase.

Additionally, construction began on 88,500 new rooms in 2024, marking the highest number of construction starts in Hilton’s history, excluding acquisitions and partnerships. The company continues to be a major player in hotel development, with approximately one in five rooms currently under construction globally expected to become part of Hilton’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 6 to 7 per cent in 2025.”

Expanding global presence

Hilton’s expansion in 2024 included several strategic initiatives aimed at entering new markets and diversifying its offerings.

New lifestyle and luxury partnerships: Hilton introduced two new brands, Graduate by Hilton and NoMad, broadening its presence in university communities and luxury lifestyle segments. The company also entered a partnership with Small Luxury Hotels of the World (SLH), incorporating hundreds of independent luxury hotels into its network.

Luxury portfolio growth: Hilton’s luxury division, which includes Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, LXR Hotels & Resorts and Signia by Hilton, surpassed 500 hotels worldwide. Several high-profile openings are slated for 2024 and 2025, including Waldorf Astoria New York, Conrad Hamburg, Conrad Athens and Signia by Hilton Amman.

Expansion of Spark by Hilton: The company’s premium economy brand, launched in 2023, has grown to more than 100 hotels in markets such as the United Kingdom, Canada and Austria. Plans are underway to further expand Spark into new regions.

Development of LivSmart Studios by Hilton: Hilton’s long-stay brand, introduced in 2023, is set to open its first location in Kokomo, Indiana, in summer 2024, with additional properties in various stages of negotiation.

Outlook

Hilton now operates more than 8,400 properties across 140 countries and territories. In 2024, it expanded into Paraguay, Nepal and Bonaire.

“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 and a growing global middle class, we’re confident in our ability to deliver sustained growth in 2025 and beyond.”

Hilton also reported welcoming more than 224 million guests in 2024, the highest number in its history. As the company moves into 2025, it continues to focus on expansion, brand diversification and adapting to shifting travel trends.