Hilton bets on China’s middle class as it eyes about 730 hotels in next 10 years
- The operator of Waldorf Astoria and Conrad hotels said its performance received a boost from Chinese travellers this year
- Hilton said its properties in Asia-Pacific stood out in the second quarter, with revenue-per-room surging 79 per cent year on year
International hotel operator Hilton plans to continue expanding its footprint in China, betting on surging demand from the nation’s middle class amid an upswing in tourism.
The operator of Waldorf Astoria and Conrad hotels and resorts plans to open more than 730 hotels in mainland China in the next 10 years after opening 100 properties last year, according to Clarence Tan, a senior vice-president of development for Asia-Pacific.
Hilton, which was previously 25 per cent owned by HNA Group until 2019 before the Chinese conglomerate fell into financial difficulties, had 546 hotels in 170 destinations across China as of end-June. It had closed 60 per cent of its properties across Asia-Pacific at the height of the pandemic that ravaged the industry for three years between 2020 and 2022.
“We have seen robust growth mainly driven by China [in the first half of the year],” Tan told the Post in a recent interview. “China had a very strong second quarter as domestic travel is catching up exponentially.”
02:17
Thousands of tourists flock to China’s Great Wall during ‘golden week’, as travel numbers rebound
A revival in tourism since January has been predominantly driven by leisure demand, leading to continued growth in performance among hotels in Asia-Pacific, according to property consultancy JLL.