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Hilton may enter the hostels market

The hotel group is preparing to add a new brand brand to its network to regroup inexpensive small hotels in large cities.

In an interview with Bloomberg, the CEO of Hilton Worldwide, Chris Nassetta, announced the group may add a new brand to its network. The brand would have similar codes to hostels, which would offer inexpensive accommodations with limited services to young travelers. The collection would consist of small structures located in large cities worldwide.

"We haven't made a decision to do anything in that space, but it's certainly one of the things we've been exploring," declared the CEO before remarking that Hilton Worldwide would prefer to create its own brand rather than buy one.

Spending young travelers worldwide should reach some 336 billion dollars by 2020, versus 230 billion in 2014, according to Stay Wyse. Moreover, half of Generation Y spend at least 1,100 dollars when they travel.

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