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

Oct 26, 2023

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

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