Luxury travel looks set to be on the uptick with consumers hungry for bucket list-worthy travel experiences and creating unique memories after more than two years of staying home during the pandemic. The resurgence of travel has come at an opportune time for the global hospitality company, Hilton which is prioritising the Asia-Pacific region as a key growth market for luxury travel.
Hilton expects its luxury estate to grow by more than 50 per cent in the next few years. In July, the hotel operator said that it expects net income of US$1.15 billion to US$1.22 billion in 2022, compared to its previous guidance of US$1 billion to US$1.07 billion.
In August, the Hilton Group announced that it has signed six new luxury hotels in Asia-Pacific and a slew of hotel and resort openings in the next three years. Some of the highlights include the rebranding of Regent Singapore to Conrad Singapore Orchard on January 1, 2023.