Luxury brands Waldorf Astoria and Conrad were among the standout performers for Hilton in the six months ending June 30, 2019, according to the company’s half-year financial results released this week, with both brands posting strong occupancy and RevPAR growth.
Compared against the corresponding period one year earlier, Conrad Hotels and Resorts posted a 4.3 per cent jump in occupancy to 75.1 per cent and seven per cent spike in RevPAR to US$204.94 per night – a result only bettered by the mid-range Hampton by Hilton brand and highlighting the strengthening luxury sector for the 100-year-old group.
Results for Waldorf Astoria were strong but slightly more modest across its 32-property network, with RevPAR closing up 2.7 per cent to US$274.06. Occupancy was more measured but still climbed 0.7 per cent to 72.3 per cent.
Another brand making its mark in the RevPAR field was the Curio Collection by Hilton, which saw a climb of 4.2 per cent to US$160.14 per night. The improvement capped off a stellar period in RevPAR for Hilton as an entirety, which said it expects system-wide to grow as much as two per cent on a currency neutral basis.
Hilton’s development pipeline swelled to 373,000 rooms globally as at June 30, 2019, with just over 28,000 new rooms signed during the second quarter.
The company’s President and CEO, Christopher J Nassetta said he was pleased with the outcomes from the period.
“We continued to experience meaningful market share gains during the quarter with increases across all brands and regions, further growing our industry-leading RevPAR index premium. As we look to the remainder of the year, we think we are well-positioned to continue driving growth ahead of the industry.”