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Hilton Worldwide Holdings Inc   (HLT)
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    Sector  Services    Industry Hotels & Tourism
   Industry Hotels & Tourism
   Sector  Services

Hilton Worldwide Holdings Inc

Business Description


Hilton Hotels Corporation is engaged, together with its subsidiaries, in the ownership, management and development of hotels, resorts and timeshare properties and the franchising of lodging properties. Our system contained 2,173 properties, totaling over 348,000 rooms. Of such properties, we owned an interest in and operated 122 hotels, leased seven hotels, managed 206 hotels owned by others and franchised 1,808 hotels owned and operated by third parties. Also included in the number of properties in our system are 30 timeshare properties which we managed or franchised. All of these properties are located in the United States, with the exception of 15 hotels which we own an interest in and/or manage and 50 hotels which we franchise.

Our hotel brands include Hilton, Hilton Garden Inn, Doubletree, Embassy Suites, Hampton, Homewood Suites by Hilton and Conrad. We develop and operate timeshare resorts through Hilton Grand Vacations Company and its related entities, which we wholly own. We are also engaged in various other activities related or incidental to the operation of hotels.

We operate in three reportable business segments which are based on similar products or services: Hotel Ownership; Managing and Franchising; and Timeshare.

We operate hotels through our brands described below, which target a wide variety of markets and geographic areas. According to data from Smith Travel Research, in 2003, our Hilton, Hilton Garden Inn, Embassy Suites, Homewood Suites by Hilton and Hampton brands all commanded significant market share premiums in the system-wide RevPAR (rooms revenue divided by the number of available rooms) index, which represents the share of RevPAR these properties attain versus their respective competitive sets.

Hilton

Hilton hotels are our upscale, full-service hotels that typically include swimming pools, gift shops and retail facilities, meeting and banquet facilities, restaurants and lounges, room service, parking facilities and other services. The Hilton brand also includes Hilton Suites hotels which are upscale, extended stay all-suite hotels. As of December?31, 2003, there were 230 Hilton hotels, representing 89,012 rooms, located in 37 states, the District of Columbia, Canada and Mexico.

Hilton Garden Inn

Hilton Garden Inn hotels are our upper mid-market, limited service hotels that utilize a modular design constructed around a courtyard containing an indoor or outdoor swimming pool. In 2003, the Hilton Garden Inn brand earned the first place J.D. Power Award for "Highest Customer Satisfaction" in its category for a second consecutive year. As of December?31, 2003, there were 183 Hilton Garden Inn hotels, representing 25,010 rooms, located in 38 states, the District of Columbia, Canada and Mexico.

Doubletree

Doubletree hotels are our full-service hotels in the mid-market to upscale hotel category. The Doubletree brand also includes the Doubletree Guest Suites all-suite hotels and the moderately priced Doubletree Club hotels. As of December? 31, 2003, there were 155 Doubletree hotels, representing 40,614 rooms, located in 38 states, the District of Columbia, Canada and Latin America.

Embassy Suites

Embassy Suites are our upscale, all-suite hotels that feature two-room guest suites with a separate living room and dining/work area and a complimentary cooked-to-order breakfast. Most Embassy Suites hotels are built around a landscaped atrium. In 2003, the Embassy Suites brand earned the first place J.D. Power Award for "Highest Customer Satisfaction" in its category for a fifth consecutive year, a first in the history of the J.D. Power Award in the lodging category. As of December?31, 2003, there were 174 Embassy Suites, representing 42,553 rooms, located in 37 states, the District of Columbia, Canada, Dominican Republic, Puerto Rico and Latin America.

Homewood Suites by Hilton

Homewood Suites by Hilton are our upscale, extended stay hotels that feature residential style accommodations including business centers, swimming pools, convenience stores and limited meeting facilities. In 2003, the Homewood Suites by Hilton brand earned the first place J.D. Power Award for "Highest Customer Satisfaction" in its category.

Hampton

Hampton Inn hotels are our moderately priced hotels with limited food and beverage facilities. The Hampton brand also includes Hampton Inn?& Suites hotels which offer both traditional hotel room accommodations and apartment style suites within one property.

Other Brands

In addition to our hotel brands described above, as of December?31, 2003, 16 hotels, representing 5,347 rooms, were operated under our Conrad brand, described below, or under third party brands pursuant to contractual arrangements.

? Conrad. Conrad hotels are our upscale, full-service hotels located primarily outside the United States. As of December?31, 2003, we managed, and in some cases partially owned, 11 Conrad hotels, representing 3,902 rooms, located in Belgium, Egypt, England, Hong Kong, Ireland, Singapore, Thailand and Turkey. Future development of Conrad hotels is subject to our agreements with Hilton Group plc.


Competition

We seek to maintain the quality of our lodging business while expanding both domestically and internationally, primarily through franchising and the addition of management contracts. We intend to improve our business by leveraging our strong brand names, maximizing operating efficiencies, utilizing cost containment programs and expanding and enhancing properties. We may also acquire or develop properties as appropriate, either directly or through investments in joint ventures.

Our position as a multi-branded owner, operator, manager and franchisor of hotels makes us one of the largest hotel companies in the United States. Competition in the industry is based primarily on the level of service, quality of accommodations, convenience of locations and room rates. Competition from other hotels, motels and inns, including facilities owned by local interests and facilities owned by national and international chains, is vigorous in all areas in which we operate or franchise our facilities. Our hotels also compete generally with facilities offering similar services and located in cities and other locations where our hotels are not present. If hotel capacity is expanded by others in a city where our branded hotels are located, competition will increase. Competition in the timeshare business is based primarily on the quality and location of timeshare resorts, the pricing of timeshare intervals and the availability of program benefits, such as exchange programs.




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