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Hilton Worldwide (NYSE:HLT) today celebrated the grand opening of Spark by Hilton Mystic Groton. The company said the new location in Connecticut solidifies its foray into the premium economy segment.
The hotel is the first for the Spark by Hilton line, which is described as a new industry-disrupting premium economy brand by Hilton (HLT) that provides simple, reliable, comfortable stays at an accessible price for guests.
With more than 400 opportunities in various stages of development, the first-ever Spark by Hilton made its debut just eight months after Hilton announced the new, conversion-only brand in January of this year.
“At Spark by Hilton, our approach to hospitality is all about ensuring that every traveler can enjoy exceptional quality without sacrificing affordability,” said Hilton Spark brand leader Alissa Klees. “As we celebrate the opening of our inaugural Spark in Mystic, it marks the start of a journey to reshape travel and disrupt the premium economy segment while expanding our customer and owner base,” added Klees.
Hilton (HLT) is lined up to report Q3 earnings on October 25. Analysts expected the hotel giant to report revenue of $2.59B and EPS of $1.66. For Q2, Hilton (HLT) generated system-wide comparable RevPAR growth of 12.1% in the quarter, due to increases in both occupancy and ADR. Management and franchise fee revenues increased 16.1% compared to a year ago. Total revenue was up 18.8% to $2.66B and adjusted EBITDA was $811M vs. $679M a year ago.
