Company Profile - Hilton Worldwide Holdings Inc

Company Profile - Hilton Worldwide Holdings Inc Name: Institution: Course Code: Date: Name, industry sector and size of the company Hilton Worldwide Holdings Inc. Is an international multinational company. It is headquartered in Tysons center in Virginia and has operations in 110 countries. It has a revenue of $8.9 billion in 2018 and about 169,000 employees CITATION For19 \l 1033 (Forbes, 2019). Though the company has a few directly managed hotels, it mainly franchises the Hilton brand and directly manages others. Hilton Worldwide Holdings Inc’s portfolio has 5757 properties and about 923110 rooms around the world CITATION Hil19 \l 1033 (Hilton, 2019). Of these properties, 4947 are franchised making franchising the main revenue source. Hilton Worldwide Holdings Inc have 15 different brands in different market segments. Product line The Hilton Worldwide Holdings Inc main asset is the franchising the Hilton brands. There are also properties that are directly managed by the hotel either as an outsourced manager or directly owned by the company CITATION Mar152 \l 1033 (Martin, 2015). Comparatively, these are far fewer than the franchised properties. The directly owned properties are either leased or owned by the company. The Hilton brands are in several industries and target different customers in different locations. Hilton Worldwide Holdings Inc has 15 brands; Luxury brands are; Waldorf Astoria Hotels and Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts. Upper upscale and upscale brands are; Hilton San Diego Bayfront, Hilton San Francisco and Towers, Canopy by Hilton, Hilton Hotels & Resorts, Curio Collection by Hilton, Embassy Suites by Hilton, Homewood Suites by Hilton, doubletree by Hilton, Tapestry Collection, Hilton Garden Inn, Homewood Suites by Hilton. Midscale brands are; Motto, Hampton, Home2 Suites, Tru. Timeshare brands are the Hilton Grand Vacations. Other former brands include; Coral, Denizen Hotels, Lady Hilton and Scandic Hotels. All these brands are in different industries but majorly accommodation. The company has run several gaming products mainly in casino operations. Ownership Hilton Worldwide Holdings Inc is a combination of company-owned properties and franchises. The company owns several properties under the Hilton brand which it directly manages. However, majority of the Hilton brands out there are not directly owned by the Hilton Worldwide Holdings Inc but rather franchised. The franchised properties are about 4797 of the 5757 properties CITATION Hil19 \l 1033 (Hilton, 2019). Franchising is the main source of revenue for the company as of 2019. 97% of the rooms branded under Hilton are franchised to independents operators and companies. What makes Hilton Worldwide Holdings Inc special There are a couple of things that make the company very special. Firstly, it is its beginnings and the way it evolved to what it is today. It started in the hospitality industry but lately, it seems to be in the real estate industry CITATION Reu16 \l 1033 (Reuters, 2016). In its early years, it was primarily involved in directly managing the hotel chains owned by the founder Conrad Hilton and his family. However, lately it is in the real estate business deriving much of its income from franchising its brands. It directly manages and runs very few of its hotels which are owned directly by the company hence it is primarily in the real estate industry with its main asset being the brand name it has built in the last century. It is interesting that the company which is globally known is associated with being the owner of various properties in about 110 countries owns very few of these properties. The fact that it is known for being in the hospitality industry but its main source of income is directly offering services to people who check into Hilton branded hotels but sells brand name to the owners ...