Hilton's latest results.

Hilton Worldwide Holdings has just reported its third quarter 2024 results, Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We were pleased to deliver continued strong bottom line results that exceeded our guidance, despite slower top-line growth which was driven by modestly slower macro trends, weather impacts and unfavourable calendar shifts. We continued to demonstrate the strength of our model, opening more rooms than any other quarter in our history, surpassing 8,000 hotels and achieving net unit growth of 7.8 percent."

For the three months ended September 30, 2024, system-wide comparable RevPAR increased 1.4 percent compared to the same period in 2023 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 8.3 percent compared to the same period in 2023.

For the nine months ended September 30, 2024, system-wide comparable RevPAR increased 2.4 percent compared to the same period in 2023 due to increases in both occupancy and ADR, and management and franchise fee revenues increased 10.7 percent compared to the same period in 2023.

For the three months ended September 30, 2024, diluted EPS was $1.38 and diluted EPS, adjusted for special items, was $1.92 compared to $1.44 and $1.67, respectively, for the three months ended September 30, 2023. Net income and Adjusted EBITDA were $344 million and $904 million, respectively, for the three months ended September 30, 2024, compared to $379 million and $834 million, respectively, for the three months ended September 30, 2023. 

Key highlights

Diluted EPS was $1.38 for the third quarter, and diluted EPS, adjusted for special items, was $1.92

Net income was $344 million for the third quarter

Adjusted EBITDA was $904 million for the third quarter

System-wide comparable RevPAR increased 1.4 percent, on a currency neutral basis, for the third quarter compared to the same period in 2023

Approved 27,500 new rooms for development during the third quarter, bringing our development pipeline to 492,400 rooms as of September 30, 2024, representing growth of 8 percent from September 30, 2023

Added a record 36,600 rooms to our system in the third quarter, resulting in 33,600 net additional rooms for the third quarter, contributing to a record net unit growth of 7.8 percent from September 30, 2023

Repurchased 3.3 million shares of Hilton common stock during the third quarter; bringing total capital return, including dividends, to $764 million for the quarter and $2,422 million year to date through October

Issued $1.0 billion aggregate principal amount of 5.875% Senior Notes due 2033 in September 2024

Full year 2024 system-wide RevPAR is projected to increase between 2.0 percent and 2.5 percent on a comparable and currency neutral basis compared to 2023; full year net income is projected to be between $1,405 million and $1,429 million; full year Adjusted EBITDA is projected to be between $3,375 million and $3,405 million

Full year 2024 capital return is projected to be approximately $3.0 billion

Net unit growth for 2025 is expected to be between 6.0 percent and 7.0 percent

 

3D Wooden Map on the wall is a unique and eye-catching product that is perfect for decorating any living and workspace. Made of high-quality birch wood, the map features intricate details and contours that bring a realistic and beautiful representation of the world to your wall. The 3D design allows for a more immersive experience, making it an ideal addition to a living room, office or study. This product isn't only aesthetically pleasing but also serves as an educational tool, as it can be used to teach geography to children or to plan your next travel adventure. With easy installation and a durable design, a wooden map on the wall is an excellent investment for any decorator or traveller

/

Development

                      In the third quarter of 2024, we opened 531 hotels, totalling 36,600 rooms, resulting in 33,600 net room additions.(1) During the quarter, NoMad, Graduate by Hilton and Small Luxury Hotels of the World ("SLH") became available for reservations on our booking channels. The addition of SLH hotels brings our hotel portfolio to ten additional countries and territories, allowing our guests to book, earn and redeem Honors points in more sought-after destinations. We continued to expand our portfolio in the Asia Pacific market, surpassing 900 hotels in the region and opening our 700th hotel in China. Additionally, our Spark by Hilton brand continues to grow, with more than 20 hotels opening during the third quarter, including the debut of the first Spark hotel in Canada. 

We added 27,500 rooms to the development pipeline during the third quarter, and, as of September 30, 2024, our development pipeline totalled 3,525 hotels representing 492,400 rooms throughout 120 countries and territories, including 28 countries and territories where Hilton had no existing hotels. (2) Additionally, of the rooms in the development pipeline, 235,400 were under construction and 280,700 were located outside of the U.S.

Don't forget to visit our sister site Air101.co.uk to find out about all things aviation.