Hip roofs slope down on all four sides, with hips at each corner. The hip linear footage drives the bundle count for ridge-cap material — typically 20-25 LF of hip per bundle of hip cap.
Hips waste more shingles than gables because every shingle along the hip needs an angled cut. Bump waste percentage from 10% (gable) to 12-15% (hip and valley) when bidding hip-roof material.
Don't confuse a hip with a valley. Hip = external angled ridge (water sheds away). Valley = internal angled trough (water flows down).