Hilton projects 2024 corporate rate increases
The company expects the 2024 corporate rates, currently under negotiation with some clients, to be in the "upper single digits
Hilton Worldwide's third-quarter business travel demand continued to recover, with business transient revenue per available room up about 5% year over year, Hilton president and CEO Christopher Nassetta said Wednesday during an earnings call.
Key takeaways
- Hiltons contracted corporate business comprised about 6% of its business," compared with small and midsize businesses, which represents 85% of its business;
- Most 2024 contracted corporate pricing will be based on dynamic rates, Hilton said;
- The company continues to see positive group booking trends for "all future periods," as on-the-books group business for next year is up 18% year over year. Small- and medium-sized groups make up 85% of Hilton's group business.
Get the full story at BTN