“That’s hot” is becoming more than Paris Hilton’s catchphrase as her great-grandfather’s namesake hotel chain undergoes a makeover. HiltonHLT

is rapidly acquiring luxury hotels, planning a 500% increase in its high-end inventory throughout 2024. This move aims to offer the company’s 190M Hilton Honors members additional options, providing them more ways to splurge their hard-earned points.

• Hilton’s senior vice president revealed the strategy to Bloomberg, stating travelers are “staying with us because they want to accumulate their points to spend them somewhere they can celebrate and enjoy.”
• The expansion includes acquiring Graduate Hotels for $210M, a controlling stake in Sydell Group, and exclusive partnerships with AutoCamp and Small Luxury Hotels of the World.

Roadside to caviar: Following a post-pandemic shift to luxury travel, competitors like HyattH

and InterContinentalIHG

are also bulking up their premium hotel portfolios — where MarriottMAR

boasts a commanding lead. Hilton’s bold push is already bearing fruit as its premium brands, Waldorf Astoria and Conrad, reported Q2 revenue increases of 7.5% and 8.7% year-over-year, respectively. As Hilton steps up its luxury offerings, “That’s hot” is about to take on a whole new level of opulence.

Read: They Tried To Take On Marriott and Hilton. Now, These Hotel Upstarts Are On Life Support.