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  "documentTitle": "2026 02 Investor Presentation",
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  "notes": "The chart tracks room growth and conversion rates over a 13-year period.",
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      "text": "HLT NET UNIT GROWTH (000s of rooms)",
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      "text": "(a) As a % of gross room openings. (b) Includes strategic partnership hotels. Conversions represented 33% and 30% for the years ended December 31, 2025 and 2024, respectively.",
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      "text": "3. A HIGH-QUALITY PIPELINE GENERATING SUBSTANTIAL RETURNS ON MINIMAL CAPITAL INVESTMENT",
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