Market Chatter: Hilton Worldwide Seeks to Expand India Footprint

MT Newswires Live11-20 00:38

Hilton Worldwide Holdings (HLT) plans to quadruple the number of hotel rooms in India in the next five years, Reuters reported, citing Alan Watts, president of the hotel operator's Asia Pacific business.

On Monday, the company struck a licensing deal with India's Embassy Group to open 150 of its Spark brand hotels in the Asian country, according to the report.

Hilton adopted a strategy of prioritizing China, initiating its brand launches in the country before expanding to other Asian nations. Regarding Spark, it marks the first brand in APAC to begin its journey with India as the primary focus, Watts told Reuters.

Watts believes this approach reflects the current state of the markets, highlighting India's promising potential and the somewhat unpredictable nature of China's market, according to the news outlet.

Hilton didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 248.03, Change: -1.01, Percent Change: -0.41

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