Curio will be a collection of four- and five-star hotels that will allow Hilton customers to earn and redeem rewards points under the Hilton HHonors program.
"Our customers and owners have expressed strong interest in a brand from us that includes hotels that can retain their unique identity but also deliver the many benefits of our system, including our Hilton HHonors guest loyalty program," Hilton CEO Christopher Nassetta said in a statement.
In Las Vegas, Hilton is joining SLS Las Vegas, which is owned by SBE Entertainment and Stockbridge Real Estate, to renovate the former Sahara Hotel and Casino on the northern end of the Las Vegas Strip. The $415 million hotel is scheduled to open on Labor Day weekend.
While casino stocks Wynn Resorts (WYNN), MGM Resorts International (MGM), and Las Vegas Sands (LVS) had fabulous growth last year, largely because of expansion into the Macau, China gambling market, Hilton sees opportunities in Las Vegas.
As the U.S. economy is expected to pick up during the next few years, spending on gambling and special events in Las Vegas should increase, and Hilton should benefit from the trend.
At the time of publication, the author had no position in any of the funds mentioned.
This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.