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Hilton (HLT) Adds 3 New Hotels to Tapestry Collection Brand

Zacks Equity Research
Updated

Hilton WorldwideHoldings Inc. HLT, is known for its scale, size, and commercial platform. Also, the company has fortified its global presence apart from expanding in the domestic market.

In line with its expansion strategy, Tapestry Collection by Hilton recently added three hotels to its portfolio. The Troubadour New Orleans hotel was opened in, New Orleans while The Cotton Sail Hotel Savannah and Hotel Ballast Wilmington hotels are slated to open in Georgia and North Carolina, respectively, in 2018.

Located in the Central Business District of New Orleans, The Troubadour has 184 guestrooms. Cotton Sail Hotel, with 56 guestrooms, will open in the heart of old Savannah’s National Landmark while the 272-room Hotel Ballast will be located in downtown Wilmington.

Launched in January 2017, Tapestry Collection by Hilton has been gaining significant momentum. Further, the addition of the three hotels will not only add to the company’s brand portfolio but will also help it gain traction in key markets.

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Notably, on Jan 4, Hilton completed the spin-off of Park Hotels & Resorts, Inc. PK and Hilton Grand Vacations Inc. HGV resulting in three independent, publicly-traded companies. On the same day, the company put the previously announced 1-for-3 reverse stock split into effect. All these developments are expected to make Hilton a fee-based, capital efficient and resilient business, with enormous growth potential worldwide.

Post the split, the company’s shares have rallied nearly 27.8% to date while the S&P 500 market gained 14.2%.



 

However, macroeconomic fluctuations, unfavorable currency translations and competition from larger hoteliers like Marriott International, Inc. MAR might dent Hilton’s top line.

Nonetheless, this Zacks Rank #2 (Buy) company can continue gaining traction with aggressive expansion plans. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Marriott International (MAR) : Free Stock Analysis Report
 
Hilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report
 
Hilton Grand Vacations Inc. (HGV) : Free Stock Analysis Report
 
Park Hotels & Resorts Inc. (PK) : Free Stock Analysis Report
 
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Zacks Investment Research