by Mia Taylor
Last updated: 5:37 PM ET, Fri October 26, 2018
Hilton approved the creation of more than 29,000 new hotel rooms during the third quarter of 2018, increasing its pipeline to more than 371,000 rooms.
The significant inventory increase was one of the primary highlights from the company's third-quarter results report. Hilton also posted net income for the quarter of $164 million, a slight increase over the same quarter last year.
A significant portion of the company's room growth is tied to the recent introduction of its latest brand, Motto by Hilton, an urban lifestyle micro-hotel set to launch in 2019.
The new brand, announced earlier this week, will emphasize affordability and appears to be squarely targeting the hostel demographic, while also seeking to improve upon the overall hostel experience.
Flexibility will be another key focus of Motto by Hilton hotels, which will feature cleverly designed spaces including guest rooms with space-saving features such as wall-beds, lofted beds, segmented showers and multi-functional furniture that can be stowed when not being used.
Motto by Hilton properties will be opened in prime global locations throughout Europe, the Americas, the Middle East and the Asia Pacific region.
One of the first locations for the new brand will be a 100-bed Motto by Hilton in Marylebone, London, to be developed with the UK-based developer, Dominvs Group. Construction will start in January 2019 and the opening is targeted for 2020.
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