Hilton’s business transient RevPAR (revenue per available room) grew 11% year over year, leisure RevPAR was up 7% and group RevPAR grew 19% over the same period, according to executives speaking on a second quarter earnings call.

The second quarter represented “the largest number of quarterly signings in our history,” said Christopher Nassetta, CEO, referring to contracts for Hilton-branded properties. He said conversions accounted for nearly a third of signings in the U.S., and signings in international locations doubled since last year.

The company’s pipeline has “a record 3,000 properties and 441,000 rooms,” Nassetta said. Roughly half of Hilton’s pipeline is currently under construction.

Nassetta raised Hilton’s revenue per available room outlook for 2023; the company now expects 10% to 12% RevPAR growth for the year. Those expectations come after a second quarter that saw 12% RevPAR growth versus the same period in 2022, driven by strong demand growth in Asia, particularly in China, according to Kevin Jacobs, Hilton’s CFO and president of global development.

Systemwide occupancy in the quarter was 75%, up 4.2 percentage points over the same period in 2022, and June represented the company’s “highest post-pandemic occupancy,” Nassetta said.

Nassetta also said the company will launch “something in the luxury space” in the next year to join the existing Waldorf Astoria, LXR and Conrad brands. Still, he said, the big mass market opportunity in every major market in the world is the mid-market. “And so,” he said, “we are not ashamed of saying we have every intention to have the best brands in every market to serve mid-market because we think that’s where the most money will be made over the next 10 or 20 or 30 years.”