NEW YORK (TheStreet) -- Shares of Hilton Worldwide Holdings Inc. (HLT) - Get Report closed up 1.31% to $24.82 after the company said it has ambitious expansion plans for Latin America, the Wall Street Journal reports.

The hospitality service provider is "aiming to open nearly 40 hotels and resorts in the region by the end of 2016 as economic growth drives demand for new lodging."

As of June, Hilton had approximately 12,000 rooms at 62 hotels and resorts. It expects to complete seven more hotels with at least 1,000 rooms by the end of the calendar year.

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