Hilton Worldwide Holdings Inc. HLT has launched a new lifestyle brand, Tempo by Hilton. This launch marks the company’s 18th brand in its portfolio.
Notably, Tempo by Hilton aims to meet growing demand of "modern achievers" who seek a hotel experience that reflects their ambition. The brand is launched in partnership with leading professionals in lifestyle domain like Arianna Huffington’s Thrive Global and established culinary firm, Blau + Associates.
Christopher J. Nassetta, president & CEO of Hilton stated, "Tempo by Hilton is the latest example of our unique ability to anticipate what our guests are looking for and deliver unmatched value for customers and owners alike. We’re thrilled to welcome this new brand to our Hilton family and look forward to building on our legacy of innovation with Tempo by Hilton."
Meanwhile, the McLean, Virginia-based company is confident about the success of the new brand as it has witnessed a strong demand ahead of its launch. Tempo by Hilton has confirmed more than 30 individual deals in several prime markets across the United States including New York, Maui, Boston, Los Angeles, Lexington, Nashville, San Diego, Charlotte, Washington D.C., Houston, Atlanta, and others. It has additional 30 properties yet to be finalized.
This apart, the company also launched new brands like Motto by Hilton, an affordable, lifestyle micro-hotel in prime urban destinations and Signia by Hilton, the portfolio’s premiere meetings and events brand.
In a bid to maintain its position as the fastest-growing global hospitality company, Hilton is continuing to drive unit growth. To this end, the company opened 118 new hotels during the third quarter of 2019. As of Sep 30, 2019, Hilton's development pipeline comprised nearly 2,530 hotels, with roughly 379,000 rooms throughout 111 countries and territories, including 35 countries and territories where it currently does not have any operational hotels.
Backed by solid expansion strategies and a strong brand presence, shares of Hilton have gained 52.7% in the past year compared with the industry’s 28.3% growth. The launch of Tempo by Hilton is likely to help it boost overall revenues and witness increased revenue per available room (RevPAR) for its worldwide comparable system-wide properties.
Currently, Hilton carries a Zacks Rank #3 (Hold) and shares space with Choice Hotels International, Inc. CHH, Hilton Grand Vacations Inc. HGV and Marriot Vacations Worldwide Corporation VAC, You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Choice Hotels International, Inc. (CHH) : Free Stock Analysis Report
Marriot Vacations Worldwide Corporation (VAC) : Free Stock Analysis Report
Hilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report
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