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Bloomberg

Spending Power of Millennials Has Hilton Thinking of Starting a New Hotel Brand — It’s Our Non-TV Story of the Day

Mar 9, 2016  •  Post A Comment

Hilton’s CEO says the company is exploring creating a new brand in response to growing demand by young travelers for no-frills lodging.

Bloomberg quotes Chris Nassetta saying: “There’s potential for something that has more of an urban flair, more of a micro-hotel. We haven’t made a decision to do anything in that space, but it’s certainly one of the things we’ve been exploring.”

The report adds: “The brand would offer ‘hostel-like’ accommodation for younger guests, with lower prices and less service, Nassetta said. Hilton prefers to develop new brands itself, rather than making acquisitions, he said.”

Hilton Worldwide Holdings Inc., which owns the Waldorf-Astoria and Hampton Inn brands, is the world’s largest hospitality company by number of rooms, the report notes.

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