Hilton president and CEO Chris Nassetta announced plans for a new midscale brand and total revenues of $2.6 billion during Hilton Worldwide’s first quarter earnings call.
Seeking organic growth, Nassetta told analysts that the company plans to fill the void left by Hampton Inn in the midscale sector, the last gap among its offerings, with an entry-level brand in the next year.
“We’re hard at work,” says Nassetta. “Sometime in the next 12 months, you’re going to see us do something in that category, and we think that could be a mass-scale brand, particularly in the U.S. This could be amongst the largest brand by hotel count that we have.”
The company is seeking to create more brands in-house as opposed to acquiring other companies at this time.
