Due to COVID-19 pandemic restrictions, travel severely declined as a result. This decline in travel was particularly hard on hotels and resorts, which lost billions in revenue as people didn't go on vacation or travel for work events like they used to. According to data, the travel and tourism sector is one of the fastest-growing industries, accounting for over 10% of the world’s GDP. This is an attractive quality for franchisees to consider when making a new business investment. Additionally, Hilton has remained strong during the pandemic in comparison to its competition. According to Business Finance, Hilton remains the world’s most valuable hospitality brand. The brand saw its value go up by an impressive 35% despite the COVID-19 pandemic.
The brand is part of the impressive portfolio of brands at Hilton Worldwide, which has hotels in more than 90 countries. Other brands that fall under the Hilton Worldwide umbrella include: Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, DoubleTree by Hilton, Embassy Suites by Hilton, Hampton by Hilton, Hilton Garden Inn, Homewood Suites by Hilton, Home2 Suites by Hilton, Curio - A Collection by Hilton, Canopy by Hilton and Hilton Grand Vacations. It was founded in 1919 and has been franchising since 1965. It has incredibly brand recognition and is known for being the epitome of luxury and class. This is a very attractive quality to protective candidates looking to get their piece of the booming hotel and resort industry. Hilton has proven itself to be an industry leader who can bounce back quickly during difficult times, like a global pandemic that restricts travel.