In its fourth quarter and full-year earnings, Hilton closed another remarkable year of growth with Q4 RevPAR up 41.6% on year, with Greater China RevPAR up +72.8% compared to the same period in 2022. Full year APAC RevPAR grew 58.7% versus 2022. Occupancy remains driven by continued growth in leisure travel, which is being increasingly supported by rising corporate and group demand. Beijing, Tokyo and Kuala Lumpur stood out as Hilton’s best performing markets.
In 2023, the company saw a record-breaking addition of 143 hotels to its portfolio, with 45 new properties opened in the fourth quarter alone – the most in any quarter in its history. Recent openings included Hilton Nanjing Niushoushan, Conrad Singapore Orchard and Umana Bali, LXR Hotels & Resorts, which also marked the brand’s debut in South East Asia. In a further boost to its network effort, Hilton announced an exclusive strategic partnership with Small Luxury Hotels of the World that will offer its customers access to additional luxury properties in hundreds of new destinations.
Today, Hilton has surpassed 760 trading hotels in Asia Pacific and is well on course to exceed 1,000 by 2025. With its largest-ever pipeline of 861 hotels, Hilton remains the fastest growing hospitality company in the region.
