Hilton Explores Adding a ‘Hostel-Like’ Brand

Hilton Worldwide, owner of the Waldorf-Astoria and Hampton Inn brands, is toying with the idea of adding a “hostel-like” brand for Millennials to its portfolio, CEO Chris Nassetta told Bloomberg.

The brand would focus on small, inexpensive hotels with limited services in urban areas, he said, adding Hilton will develop the new brand itself.

Hilton is not the first brand to cater to Millennials; it’s playing catch-up to Marriott, Starwood, and Hyatt, which all have brands dedicated to attracting the next generation.

Born roughly from 1982 to 2000, Millennials are the nation’s largest generation, with 80 million members in the United States alone. They are expected to be the country’s biggest spenders by next year.