On July 9, 2024, Shanghai, China / PRNewswire / -- Hilton Group and Shimao Hotel Management Company (hereinafter referred to as 'Shimao Hotel') today announced that the 11 hotels managed by Hilton Group under the latter have been added to the Hilton Group Greater China Financial Shared Services Center (hereinafter referred to as 'Financial Shared Services Center') system. This move will provide operational support to hotels through Hilton Group's robust financial sharing services and bring new opportunities for owners to reduce costs and increase efficiency. By means of joining the financial shared services center, this cooperation not only signifies the further expansion of the Hilton Greater China Financial Shared Services Center but also demonstrates the high recognition of Shimao Hotel's financial management capabilities. Since the establishment of the Center in April 2023 in Nanjing, 25 hotels under Hilton Group in Greater China have joined. It is expected that by the end of 2025, this number will rise to 50 hotels, covering more branded hotels under the group and leading the development of financial sharing management in the hotel industry.

This cooperation not only signifies the further expansion of the Hilton Greater China Financial Shared Services Center but also demonstrates the high recognition of Shimao Hotel's financial management capabilities. Since the establishment of the Center in April 2023 in Nanjing, 25 hotels under Hilton Group in Greater China have joined. It is expected that by the end of 2025, this number will rise to 50 hotels, covering more branded hotels under the group and leading the development of financial sharing management in the hotel industry.

Zhang Yu, Vice President of Finance and Mongolia for Hilton Group Greater China, said: 'As one of the world's leading hotel management companies, Hilton Group has been driven by innovation to drive business development. Since its establishment, our financial shared services center has achieved outstanding results in helping hotels reduce costs and increase efficiency, bringing continuous and steady professional talent support to hotels, fully demonstrating the group's commitment to the Chinese market. With the joining of more and more hotels, the financial shared services center will also further leverage its scale advantages and benefit more hotels, empower owners through continuous innovation and process optimization, and promote high-quality development of the hotel industry.'

Liu Hongbo, Vice President of Shimao Hotel Management Company and President of Shimao Xida Hotel Group, said: 'Since the cooperation was established in 2010, Shimao Hotel Management Company and Hilton Group have jointly created eleven iconic hotels including the Conrad Xiamen Hotel. We attach great importance to the efficient operation of Hilton Group in financial management, including risk, compliance, and other management, and appreciate Hilton Group's quick response and positive innovation to market demand in the financial shared services center. This cooperation is expected to further enhance the financial management efficiency of hotels and achieve mutually beneficial development.'

With its standardized, digitized, and controllable financial processing flow, Hilton Group Greater China Financial Shared Services Center provides innovative solutions for hotel industry challenges in cost control, compliance management, and talent recruitment. By centralizing the processing of financial modules such as accounts payable, accounts receivable, general ledger, and revenue audits, combined with industry-leading automation processes and intelligent robot technology, the Center significantly improves efficiency, reduces human error rates, and provides stable support to hotels, thus achieving cost reduction and efficiency enhancement.

Currently, the hotels joining the Hilton Group Financial Shared Services Center cover the four major brands of Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Hilton Garden Inn, and Conrad Hotels & Resorts. In the future, more brands and regions will be gradually covered.

China is the world's second-largest lodging market and also Hilton Group's second-largest global market. Hilton Group has always been committed to its long-term promise to the Chinese market. In 2023, Hilton Group's Greater China Financial Shared Services Center settled in Qinhuai District, Nanjing City, relying on Nanjing's excellent business environment, geographical location, and talent reserve, and has achieved rapid development in the past year. At present, the Center has 80 employees, and it is expected that the number of employees will increase to 250 by the end of 2032.

About Hilton Group

Hilton Group (NYSE: HLT) is an internationally renowned hotel management company with 23 excellent hotel brands, with more than 7,600 hotels and nearly 1.2 million rooms in 126 countries and regions worldwide. Hilton Group has been committed to realizing the founding vision of "making the world full of sunshine and warmth and making guests feel the hospitality." During its century of development, Hilton Group has provided services to more than three billion guests. Hilton Group has been named the No.1 global workplace in Fortune magazine and the Excellent Workplace Research Institute's global best workplace survey; it has been the global industry leader in the Dow Jones Sustainability Index for seven consecutive years. Hilton Group has launched advanced services such as digital key sharing, automatic room upgrades for gold and diamond card members, and 'direct booking connection rooms', continuously improving the guest experience. Through the award-winning customer loyalty program, 'Hilton Honors', nearly 190 million members can enjoy cost-effective points redemption of accommodations. Through the free 'Hilton Honors' exclusive APP, guests can conveniently make hotel reservations. For more details, please visit stories.hilton.com.Hilton Honors exclusiveAPP. For more details, please visit stories.hilton.comAnd you can contact Hilton through the Hilton Group Information Center, Hilton WeChat official account, Hilton official Weibo, and the Hilton Honors Chinese APP.