Hilton will expand global HQ in Fairfax
State approves $6M+ in incentives
Hilton Worldwide Holdings Inc. will expand its Fairfax County corporate headquarters, creating 350 jobs over the next five years, Gov. Glenn Youngkin announced Thursday.
Over the next five years, the Fortune 1000 global hospitality company will add a variety of roles in areas created to support growth in the coming years, according to a Hilton spokesperson. Hilton currently has about 800 employees at its headquarters, located at 7930 Jones Branch Drive in McLean. Renovation plans will “create spaces for meaningful connection and collaboration,” as well as enhance common areas and office space. Hilton’s headquarters has been in Virginia since 2009.
“Virginia is America’s hometown for corporate headquarters, and we are proud that Hilton will continue to call Fairfax County home,” Youngkin said in a statement. “For more than a decade, this global company has benefited from the commonwealth’s combination of strategic location, diverse, world-class talent and stable business climate, and we look forward to a continued partnership as Hilton recommits to Virginia and reinvents its headquarters for the future.”
The space in McLean, at Park Place II, is about 220,000 square feet. It has grown its footprint from occupying about a third of the building to 70% today, according to a Hilton spokesperson. Hilton’s renewed lease is for 15 years. Bethesda, Maryland-based B.F. Saul Co. owns the property.
Hilton’s portfolio includes 18 brands with 7,000 hotels and resorts and 1.1 million rooms in 122 countries and territories. In the second quarter, Hilton added 91 new hotels and 14,400 rooms to its network, according to its July 27 earnings release. The hotelier also approved another 23,400 rooms for development, bringing the total number of rooms in the pipeline to 413,000 across 2,780 new hotels. Hilton’s net income for the second quarter was $367 million. This year Hilton ranked No. 538 on Fortune magazine’s Fortune 1000 list, ranking the largest United States corporations by total revenue.
“Northern Virginia has been Hilton’s home for more than a decade, and the region has played an instrumental role in helping us create the best, most inclusive home for our team members while also managing the demands of a global business,” Hilton President and CEO Chris Nassetta said in a statement. “We appreciate the continued support of the commonwealth of Virginia, Fairfax County, and the Tysons Partnership in ensuring we continue to attract strong, diverse talent to our vibrant, growing region.”
The Virginia Economic Development Partnership worked with the Fairfax County Economic Development Authority to secure the project for Virginia. Youngkin approved $5 million in funds from the Virginia Economic Development Incentive grant. Youngkin also approved a $1 million grant from the Commonwealth’s Opportunity Fund to assist Fairfax County with the project. Hilton is eligible to receive benefits from the Major Business Facility Job Credit for full-time jobs created.
Hilton did not release the amount of investment in the project.
“Hilton’s continued investment in Fairfax County will result in extraordinary benefits for our community,” Fairfax County Economic Development Authority President and CEO Victor Hoskins said. “The diversity of our business base continues to be one of our greatest strengths, and we are honored that Hilton has chosen to continue to play a key role in our corporate ecosystem.”