Hilton Jumps on YOTEL Pact
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Hilton (NYSE: HLT) shares rose 1% to $297.45 following the announcement of an exclusive agreement with YOTEL, enhancing Hilton's global portfolio. The partnership aims to meet evolving guest needs with YOTEL's innovative hotel designs. This franchise agreement expands Hilton's network in the lifestyle segment while maintaining its asset-light model. YOTEL will independently manage 23 hotels across 10 countries and aims to triple its portfolio. The collaboration introduces YOTEL as the first brand in Select by Hilton, allowing it to retain its identity while benefiting from Hilton's loyalty program and technology.
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