Sponsored Listings:
HNA Group, the Chinese company that is acquiring a 25% stake in Hilton Worldwide, is a conglomerate that owns airlines and hotels among other holdings. And that has Hilton excited about the opportunity to deepen the partnership to boost its business in China and the U.S.
“They are big-time in the travel and tourism business. They have tens of millions of loyalty members, and they are incredibly well-respected in China,” Nassetta said of HNA Group during Hilton’s earnings call on Wednesday. “There’s not much overlap between our core customer base and theirs, so there’s a tremendous opportunity.”
HNA Group owns or operates nearly 2,000 hotels worldwide. It also operates several airlines, including Hainan Airlines and Tianjin Airlines. For Hilton, that presents an opportunity to gain greater access to Chinese travelers.
Hilton has about 90 hotels in China. Marriott, which fortified its position in China with the acquisition of Starwood Hotels & Resorts, has about 260.
Meanwhile, Hilton will look to capitalize on the fast-growing number of Chinese citizens traveling to the U.S. Fueled by 13% growth per year, China will become the U.S.’s largest inbound travel market by 2020, the Pacific Asia Travel Association forecasted earlier this year.
Sourse: travelweekly.com
