Latest news with #ChristopherNassetta
Hospitality Net
13-06-2025
- Business
- Hospitality Net
Christian Charnaux has been appointed Executive Vice President and Chief Development Officer at Hilton
Hilton (NYSE:HLT) announced Christian Charnaux will return to the company as Executive Vice President and Chief Development Officer. He joins from Inspire Brands - the restaurant company that owns Arby's, Baskin-Robbins, Buffalo Wild Wings, Dunkin', Jimmy John's, and SONIC - where he served as Chief Growth Officer since its founding in 2018. Charnaux will start on July 1, 2025, reporting to Christopher J. Nassetta, president and CEO of Hilton, as a part of Hilton's executive committee. Kevin Jacobs will continue in the role of Chief Financial Officer. Previously at Hilton, Charnaux served in several brand management, commercial, and finance positions, including leading Hilton's Investor Relations efforts. Prior to Hilton and Inspire Brands, Charnaux was with the Boston Consulting Group where he focused on the travel and consumer product sectors. He also worked for J.P. Morgan in the Technology Coverage and Mergers & Acquisition groups. Charnaux is an alumnus of the University of North Carolina at Chapel Hill, where he was a Morehead-Cain Scholar, and later received an MBA from Harvard Business School. He currently serves on the boards of ARCOP, National DCP, as Vice Chair of Georgia's Partnership for Inclusive Innovation and on the University of North Carolina Board of Visitors.
Skift
13-05-2025
- Business
- Skift
CEO-to-Worker Pay Ratios Top 500:1 at Major Hotel and Travel Companies
Many companies have said there's no standard methodology for determining the ratio for CEO-to-median employee pay, which makes direct comparisons tricky. Rank-and-file employees at some of the United States' biggest hotel brands should expect to earn one dollar for around every $500 in compensation their CEO makes. That's according to a Skift analysis of new filings by publicly traded travel and tourism companies that detail pay ratios between chief executives and median earners. Hilton Worldwide Holdings (577:1), Las Vegas Sands (515:1), and Marriott International (475:1) reported the widest hotel and lodging industry gaps between the CEO and median employee, SEC filings indicate. At Marriott, for example, CEO Anthony Capuano earned more than $21.9 million in total compensation during 2024, while a median employee earned about $42,000, according to the company's proxy statement. 'The pay ratio could vary from year to year depending on factors such as annual incentive plan payouts and compensation decisions affecting the CEO and median employee,' Marriott said in a statement to Skift. At Hilton, CEO Christopher Nassetta earned nearly $28 million in total compensation during 2024, while a median employee earned about $48,500, according to the company's most recent proxy statement. (CEO pay is calculated in different ways. By another measure, Skift recently reported that Nassetta was awarded nearly $59 million last year.) 'Hilton offers competitive pay and benefits for all our team members and is proud of our exceptional workplace culture that has been repeatedly named among the world's best places to work and supports the professional growth of nearly a half a million team members around the world,' Hilton said in a statement to Skift. 'Hilton's CEO pay is directly tied to company performance and is competitively positioned versus our peers based on a rigorous annual benchmarking exercise conducted by the board of directors' independent compensation consultant.' Las Vegas Sands did not respond to requests for comment. Hyatt Hotels Corporation (351:1), Wynn Resorts (334:1), and MGM Resorts (332:1) reported narrower CEO-to-median pay ratios. The median pay at Wynn ($47,748) is slightly higher than that of MGM Resorts ($47,607) and Hyatt ($47,192). Airline and Cruise Pay Among airlines, United Airlines (380:1) and Delta Air Lines (258:1) led the pack in airline CEO-to-median pay gaps, according to SEC filings. United CEO Scott Kirby's compensation of more than $33.9 million in 2024 'reflects United's extraordinary success and our turnaround from the depths of the Covid travel downturn,' United told Skift in a statement. 'His compensation increase is tied directly to specific operational and financial goals. Since 2021, United has invested more than $32 billion worldwide in modern infrastructure, cutting edge technology and nearly $10 billion alone for employee raises.' Delta did not respond to a request for comment. Following United and Delta are American Airlines (191:1), Alaska Airlines (119.6:1), Southwest Airlines (115.1:1), and JetBlue Airways (81:1). Delta's median pay in 2024 led its American competitors at $105,269, followed by Southwest ($91,442), United ($89,197), JetBlue ($82,624), American ($81,744) and Alaska ($72,410), according to SEC filings. Carnival Corp. reported a 1,381:1 ratio — but explained that the seemingly low median wage of its employees ($16,834) is not an annualized figure and 'excludes any cash gratuities paid directly to the employee by guests,' while also excluding 'room and meals, transportation to and from the ship, and medical care, which are provided to our ship-based employees without charge.' Royal Caribbean Reported a 1,037:1 CEO-to-median pay ratio, while Norwegian Cruise Lines reported a 550:1 ratio. Calculating CEO-to-Median Employee Pay The CEO-to-median employee pay ratio is a relatively new calculation for publicly traded companies, a product of the post-Great Recession Dodd-Frank Wall Street Reform and Consumer Protection Act. The SEC adopted the rule in 2015, and companies began reporting it in 2018. Many companies note that there's no standard methodology for determining the ratio, making direct comparisons tricky. Among them: Booking Holdings, a company whose brands include Priceline, Kayak, Cheapflights, and OpenTable, reported a 466:1 ratio and $96,228 median pay. "The pay ratio reported by other companies may not be comparable to ours because SEC rules for identifying the median employee and calculating the pay ratio allow companies to use different methodologies, apply certain exclusions, and make reasonable estimates and assumptions that reflect their compensation practices,' Booking Holdings wrote. Airbnb's Reported Pay Airbnb reported the lowest CEO pay ratio among major, publicly traded travel industry companies, with CEO Brian Chesky receiving less compensation in 2024 — $186,326 — than the median employee, who received $271,657. But Airbnb is an outlier because it has a unique executive compensation plan among its competitors. In 2020, Chesky received a stock-heavy 10-year pay package that could earn him at least $1 billion by early next decade but an annual base salary of just $1. In other words: Chesky is still primed to make a massive amount of money, even if it's not reflected in a standard CEO-to-median employee pay ratio calculation. 'The CEO pay ratio does not include the November 2020 equity award to Mr. Chesky that was intended to take the place of ten years of our CEO's compensation,' Airbnb acknowledged in an April 25 financial filing with the SEC. In its most recent proxy statement, Airbnb also stated: 'We are committed to the principle of pay equity and seek to be a leader on this front … We want executives to come and stay with Airbnb because of our mission. However, we recognize that compensation needs to be compelling and competitive to attract and retain the talent necessary to meet our objectives.' Other notable companies with relatively tight CEO pay ratios include Expedia Group (224:1), travel technology company Sabre Corp. (155:1), TripAdvisor (72:1), and Host Hotels & Resorts (63:1), which operates a real estate investment trust and tends to employ a larger proportion of higher wage earners relative to other hotel companies.
Hindustan Times
06-05-2025
- Business
- Hindustan Times
Hilton sets sights on major India expansion, eyes 10-fold growth in a decade
Global hospitality giant Hilton plans to double its brand portfolio in the Indian market over the next five years. Looking ahead, the company aims to expand its presence 10-fold in India within the next decade. This ambitious growth strategy comes as the Indian travel market is projected to become the third-largest in the world over the next five to 10 years, said Christopher Nassetta, president and chief executive officer for Hilton at the company's First Immersive brand showcase in India held in Bengaluru. Hilton plans to double its brand portfolio in India over the next five years and expand its presence 10-fold within the next decade, said Christopher Nassetta, president and chief executive officer for Hilton. (Hilton) He said that the Indian market represents a major opportunity across brand segments from luxury to premium economy. "We are super focused and investing in significant ways to expand our business (in India). We have signed and announced a bunch of different deals lately, including Spark and Hampton. And we are doing more in the luxury space for Astoria, Conrad and other brands. We believe in the next five years, we will double the number of brands that we have represented in the (India) market. Over the next decade, we will increase our representation 10-fold in the Indian market or 300 plus hotels. That will bring us to hundreds of hotels. Our ambitions over the long term are for thousands of hotels," he said. Out of the 24 brands Hilton operates globally, at least five are currently present in India — including Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Hilton Garden Inn, and Hampton by Hilton. To tap into the growing demand for premium economy accommodations in the country, Hilton announced plans in November last year to launch 150 hotels under its new brand, Spark by Hilton, with room rates ranging between ₹ 4,000 and ₹ 6,000. "We have 130 (Spark hotels) in the world. By the end of the year, we'll probably have hopefully 250 Sparks. We only launched it last year. It's moving at a rapid pace," Nassetta told reporters at the event. He said that India may be a small market right now for Hilton in terms of the number of hotels in the country but there is a huge growth opportunity. Hospitality segment expanding on the back of infrastructure development in India: Alan Watts Alan Watts, president of Asia Pacific, Hilton, told reporters that the hospitality segment is expanding on the back of infrastructure development in India. "About 100 million people will join the consumer class over the next five years. The infrastructure of domestic travel is improving on a daily basis. The India hospitality space is exploding on the back of that infrastructure. Also, while everyone may aspire to be in a Waldorf Astoria, there are only a few locations with the real estate to suit a Waldorf Astoria," he said. During the event, Hilton also announced its first LXR Hotels and Resorts brand in India which will debut in Bengaluru in 2026. Watts also said that Hilton plans to expand 10 times the current portfolio in India with its Strategic Licensing Agreement (SLA) partners. The hospitality major has signed a SLA with Nile Hospitality to open 75 Hampton by Hilton hotels in India this year and with Olive by Embassy to develop 150 Spark by Hilton hotels in the country in November last year. Expansion plans The company showcased five of its brands at the event including Conrad Hotels and Resorts, Hilton Hotels and Resorts, DoubleTree by Hilton, Hilton Garden Inn and Hampton by Hilton and the soon-to-be-launched brands such as the luxury Waldorf Astoria Hotels and Resorts, LXR Hotels and Resorts, Signia by Hilton, the lifestyle (Curio Collection by Hilton) and focused service (Spark by Hilton) brands. The first, Spark by Hilton, (the aspirational and value brand) will open in 2025 in India, joining more than 130 trading hotels around the world. The Hampton by Hilton brand will debut across Gujarat, Rajasthan, Punjab, and Bihar. Hilton's largest brand in India, DoubleTree by Hilton—besides its 11 existing hotels—has announced 12 additional properties across Tier II and III cities, including Siliguri, Bhopal, Kochi, and Chandigarh. Hilton's first Waldorf Astoria Hotels and Resorts brand in Jaipur is expected by 2027. Slohh by Roach and Curio Collection by Hilton are set to debut as Hilton's first lifestyle hotel in India, opening later this year in Bengaluru's Whitefield. The brand will draw inspiration from Karnataka's lush coffee plantations. Meanwhile, Hilton's third Conrad Hotels & Resorts property in India, located in Jaipur, will showcase artwork by Goa-based artist Subodh Kerkar. The brand has also developed an innovative 1-3-5 model for experiences that allow guests to explore new destinations in one, three, or five hours based on personal preferences. 'This concept is about giving guests purposeful options, whether they have one, three, or five hours to immerse meaningfully in a destination,' said Dino Michael, Global Category Head, Luxury Brands, Hilton. Hilton's collaboration with Bollywood actor Deepika Padukone At Hilton's Brand Showcase held in Bengaluru, attendees got a first look at the strategy behind the company's upcoming campaign featuring global icon and brand ambassador Deepika Padukone. 'We've admired her for a long time,' said Gretchen Moore, vice president of Marketing & Loyalty, APAC at Hilton. 'She's bold, grounded, and always focused on what's next. In many ways, she reflects the spirit of our guests.' The partnership was born from a shared commitment to authenticity and human connection. 'When we sat down with Deepika, we asked, 'What matters to you right now?'' Moore said. 'She spoke openly about the fast pace of her life, the demands she faces, and how meaningful it is to feel truly supported while traveling. That conversation deeply resonated with us,' Moore said. Hilton has a portfolio of 24 brands comprising more than 8,600 properties and nearly 1.3 million rooms, in 139 countries and territories.
Skift
06-05-2025
- Business
- Skift
Hilton CEO's 10x Plan for India: 30 Hotels Today, 300 in a Decade
India is not an easy market and global brands have made numerous mistakes along the way. But it's too big a customer base to ignore. Hilton said Tuesday it plans to grow its presence in India by 10 times over the next 10 years. Right now, Hilton has 32 hotels up and running in India, with 29 more in the works. Over the next couple of years, the company plans five new Hilton brands will launch in the country. That starts this year with the Curio Collection by Hilton in Bengaluru and the first Signia by Hilton in Jaipur. More high-end offerings are also on the way, including LXR Hotels & Resorts in Bengaluru in 2026 and Waldorf Astoria in Jaipur by 2028. India will be the first market in Asia Pacific to debut Hilton's entry-level brand - Spark by Hilton. Hilton has plans for 150 Spark properties in India with the first one coming up in Goa. 'There's no market with more opportunity and higher growth than India,' Hilton's President and CEO Christopher Nassetta said during the Hilton Brand Showcase in Bengaluru on Tuesday. 'What's been happening in the hospitality market in India over the last 20 years and what will happen in the next 20, there's no other market that has more opportunity. The Mid-Market Boom Focus While luxury hotels are part of Hilton's expansion, the real focus is on India's fast-growing middle class. Nassetta summed it up plainly: 'The mid market is where the game really is.' This is where brands like Spark by Hilton and Hampton by Hilton come into play. Skift had earlier reported that Hilton has signed an agreement with Indian hotel management company NILE Hospitality to introduce 75 Hampton by Hilton properties across the country. There is currently just one Hampton by Hilton property in India, located in Vadodara. Spark, a newer addition to the Hilton family, sits in the premium economy space and is growing fast. 'The potential for a Spark in this market is into thousands of hotels… the potential is much much greater,' Nassetta said. Hilton's strategy is to offer something for every kind of traveler — from budget-conscious to high-end luxury. 'It's fairly easy to figure out what brand makes sense,' Nassetta explained. 'It really is driven by what the customer wants and what the customer will pay for… Spark will work in primary cities, primary resorts, secondary and tertiary type of locations because the rate structure of it, is such.' Hilton is also exploring new lifestyle-focused brands. After acquiring NoMad, the first deal was signed for Singapore's Orchard Road, but India is on the radar too. When asked if NoMad has a place in India, Nassetta was clear: 'Absolutely.' India's Changing Travel Landscape More than 100 million people are expected to join India's consumer class in the next five years, and the country's roads, airports, and train networks are expanding quickly. 'The infrastructure build happening in India is giving India a real momentum in the travel tourism space,' said Alan Watts, president, Asia Pacific, Hilton. 'The Indian hospitality space is exploding on the back of that infrastructure.' By expanding into tier 1 cities, major resort destinations, and also tier 2 and 3 towns, Hilton hopes to build a loyal customer base that sticks with them globally. Lessons from India Hilton's path in India hasn't been easy. 'India for us has been a hard road, harder than almost any other market on earth… there were times where we did not have the right partners or the right type of hotels or locations,' said Nassetta. However, things have changed now and he believes that the company has now hit its stride. 'I think we now have spectacular partners, locations, and hotels,' he said. 'That's why you're seeing this momentum pick up.' Recent partnership deals have helped build a strong pipeline. 'These are real deals happening and not a pipe dream,' the Hilton CEO stressed. As Nassetta put it, 'We're not going anywhere… There is no going backwards.' What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance. Read the full methodology behind the Skift Travel 200.
Business Insider
30-04-2025
- Business
- Business Insider
Hilton CEO says travelers are in 'wait-and-see mode'
The CEO of Hilton, Christopher Nassetta, said Tuesday that travelers seem to be in a "wait-and-see mode" as American travel demand has softened. Hilton reported its revenue per available room grew 2.5% year-over-year, driven by solid performance in January and February. "However, broader macro uncertainty intensified in March, which pressured demand particularly across leisure," Nassetta said on the company's first-quarter earnings call. "Weaker trends have continued into the second quarter, with short-term bookings roughly flat year-over-year." "We believe travelers are largely in a wait-and-see mode, as the rapidly-changing macro environment continues to unfold," he added. As a result, Hilton said it expected its second-quarter revenue per room to be approximately flat compared to the same quarter a year prior. The company also downgraded its guidance for the year and is now projecting revenue per available room growth of 0 to 2%. In February, they forecasted growth of 2 to 3%. Travel has recently showed signs of slowing down after a post-pandemic boom, with softening US demand being felt across much of the industry as Americans pull back on travel amid broader economic uncertainty. Airlines have also reported weaker demand and as a result have cut summer flight schedules and adjusted their forecasts for the year. Nassetta said market reactions and consumer sentiment show there's a lot of economic uncertainty, but that he thinks there's been an "overreaction" to the changes brought on by President Donald Trump's administration. "I think at the moment the risk in the marketplace is sort of weighted too heavily to the downside," Nassetta told analysts on the call. "My own belief is you will see some of that, if not a lot of that, uncertainty wane over the next couple of quarters, and that will allow the underlying strength of the economy to shine through again." Travel industry experts previously told Business Insider that travelers were booking trips more last-minute, supporting the idea that they may be in "wait-and-see mode." Ali Furman, consumer markets industry leader at PwC, and Jonathan Kletzel, transportation and logistics leader at PwC, told Business Insider last month Americans were cutting back on travel and waiting until closer to their dates of travel to book flights, hotels, and rental cars. "This moderation is different from the post-pandemic surge when consumers were willing to pay almost any price for a trip," they said, adding that consumers are focused on getting the best value. "Now, financial pressures are causing them to think twice before booking."
