Hilton Expects New Hotel Openings to Accelerate Despite Higher Interest Rates

Hilton Worldwide Holdings expects new openings to accelerate in the current quarter despite pressure from higher interest rates, Chief Executive Chris Nassetta says. “We believe we have hit an inflection point and expect a meaningful uptick in openings in the fourth quarter with continued positive momentum into next year,” he says in the company’s third-quarter earnings press release. He says the company is confident it can grow net units by 5.5% to 6%. Hotel operators have warned for much of this year that higher interest rates and construction costs are weighing on demand for new hotels.

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