Hilton Worldwide Holdings Inc. (HLT) has once again opened a hotel in China, this time under its popular brand DoubleTree. Located in the Guangdong Province, DoubleTree Hilton is the first property of Hilton in Heyuan.
Comprising 427 rooms, DoubleTree by Hilton, Heyuan is close to all major transportation hubs owing to its central location. We expect the strategic location and the wide range of amenities to create a strong guest base, going ahead. The hotel also offers amenities like a meeting space spread over an area of 4,050 square meters, a spa, a fitness center and the hotel’s signature bar.
Currently, China is one of the largest and most dynamic markets for Hilton Going forward, the tourism industry in Asia Pacific, especially China, is expected to grow fuelled by increased discretionary income and relaxed visa restrictions from popular tourist destinations at the same or higher rate than the mature markets of the U.K., France or Japan, according to the World Travel and Tourism Council. This justifies the company’s decision to open nearly 100 hotels in the region in the current fiscal year.
Other hoteliers are also in the race to tap the market. Recently, Hyatt Hotels Corp. (H) declared the launch of two properties under the Park Hyatt and Hyatt Regency brands in Changbaishan. In Jun 2014, Starwood Hotels & Resorts Worldwide Inc. (HOT) also announced debut of a Sheraton branded hotel in Wuhan, the capital city of Hubei Province in Central China last month.
Hilton Hotels presently has a Zacks Rank #2 (Buy). Another player in the hotel industry, which looks attractive, is Choice Hotels International Inc. (CHH) carrying the same Zacks Rank as Hilton.
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