Hilton to double lifestyle hotel portfolio to 700 by 2028 amidst dynamic industry growth
Hilton (NYSE: HLT) has announced ambitious plans to double its lifestyle hotel portfolio to approximately 700 properties by 2028. This significant expansion includes the recent acquisition of Graduate Hotels and NoMad Brands, along with the appointment of a new Global Lifestyle President, Kevin Osterhaus. This move underscores Hilton’s strategic focus on the rapidly growing lifestyle category, responding to both guest and owner demand.
Recent Strategic Developments
In 2023, Hilton added over 50 new lifestyle hotels and approved another 100 for future development. The company anticipates the opening of over 100 new hotels across its lifestyle brands this year alone. Notable among these are the NoMad’s flagship in London and over 30 existing Graduate locations set to be available on Hilton’s booking channels by this summer. Moreover, new Graduate hotels are expected to open in Princeton, NJ, and Auburn, AL.
Kevin Jacobs, Hilton’s Chief Financial Officer and President of Global Development, highlighted the 10th anniversary of Hilton’s entry into the lifestyle segment and its rapid growth trajectory. He noted, “The recent addition of the Graduate and NoMad brands to our lifestyle and luxury lifestyle portfolio will accelerate our growth as we look for more opportunities to deliver exceptional experiences in the world’s top hotel destinations.”
Hilton is set to double its lifestyle hotel portfolio to 700 by 2028, enhancing global travel experiences with the addition of Graduate and NoMad brands.
NoMad and Graduate to Propel Hilton’s Luxury and Lifestyle Offerings
The expansion of NoMad and Graduate under Hilton’s umbrella is set to drive growth in the luxury lifestyle segment. NoMad is celebrated for its sophisticated design and exceptional service, while Graduate brings a unique blend of collegiate charm targeting localized travel experiences.
Leadership and Vision for Growth
The appointment of Kevin Osterhaus as President of Global Lifestyle Brands marks a strategic move to guide Hilton’s lifestyle brands, which include Canopy by Hilton, Curio Collection by Hilton, and others. Osterhaus brings a wealth of experience from his tenure at Graduate Hotels and is expected to play a pivotal role in integrating these new acquisitions smoothly into Hilton’s portfolio.
Hilton’s Lifestyle Brands Poised for Expansion
– Canopy by Hilton: Known for blending sophisticated design with local touches, Canopy by Hilton is expanding into high-value leisure destinations with new resorts in Seychelles, Okinawa, Japan, and Bozeman, Montana.
– Curio Collection by Hilton: This brand offers unique, immersive experiences and is set to expand its global presence from 34 countries to 40 by mid-2024.
– Graduate by Hilton: Targets an expansive market with its collegiate-themed hotels, planning openings in Princeton and Auburn in 2024.
– Motto by Hilton: Focuses on flexible, dynamic spaces inspired by their locales, with expansion plans in South America and Asia.
– Tapestry Collection by Hilton: Specializes in vibrant, unique properties, expected to reach its 150th opening this year.
– Tempo by Hilton: Tailored for active, ambitious travelers, looking to expand significantly in key cities like Nashville and Louisville.
As Hilton approaches the milestone of its 400th lifestyle property, the company’s strategic acquisitions and leadership appointments position it to leverage growing market opportunities effectively. This expansion not only reflects Hilton’s adaptive strategies in response to evolving consumer preferences but also reinforces its commitment to delivering innovative and localized guest experiences.