McLEAN, Virginia Hilton Worldwide is continuing to develop its portfolio of luxury properties. The company’s luxury footprint, which includes 21 Waldorf=Astorias and 18 Conrad Hotels & Resorts, is continuing to expand throughout North America with the help of Matthew Sparks, who joins Hilton as senior vice president of luxury and corporate development.
The new senior vice president strategy relies upon streamlining Hilton’s efforts in the luxury segment both domestically and globally. Sparks, who previously was senior vice president of acquisitions at Sage Hospitality Resources, plans to work with assets available to him instead of new construction to spread the Hilton brand from Chicago to Jerusalem.
With a team already in place, Sparks’ plan for Hilton’s luxury segment revolves around maintaining Hilton’s brand reputation as a stellar asset in key North American and global markets. With new construction limited to specific markets and situations, Sparks’ strategy for Hilton is to seek out existing hotel properties (especially in the United States), acquire the assets and convert them into either a Waldorf Astoria or Conrad. “That’s where the capital markets are going with in regards to hotels right now,” he said. “There’s growth for us through acquisitions and conversions.”
Sparks said he’s looking at establishing the Waldorf and Conrad brands in key markets including Boston, San Francisco, Washington, D.C. and Los Angeles, where Hilton’s luxury brands have a limited presence. The company has 14 Conrad hotels in the pipeline and seven Waldorf=Astorias.
Courtesy of hotelnewsnow.com
