Hilton | August 07, 2024
MCLEAN, VA – Hilton Worldwide Holdings Inc. (“Hilton,” “the Company,” “we,” “us” or “our”) (NYSE: HLT) today reported its second quarter 2024 results. Highlights include:
- Diluted EPS was $1.67 for the second quarter, and diluted EPS, adjusted for special items, was $1.91
- Net income was $422 million for the second quarter
- Adjusted EBITDA was $917 million for the second quarter
- System-wide comparable RevPAR increased 3.5 percent, on a currency neutral basis, for the second quarter compared to the same period in 2023
- Approved 62,700 new rooms for development during the second quarter, bringing our development pipeline to a record 508,300 rooms as of June 30, 2024, representing growth of 15 percent from June 30, 2023
- Added 22,400 rooms to our system in the second quarter, resulting in 18,000 net additional rooms for the second quarter, contributing to net unit growth of 6.2 percent from June 30, 2023
- Completed the acquisition of the Graduate Hotels brand in May, which expands our lifestyle portfolio
- Announced that nearly 400 hotels have agreed to join our system under our strategic partnership with Small Luxury Hotels of the World (“SLH”), beginning in July, adding an expected 18,000 rooms to our portfolio
- Repurchased 3.5 million shares of Hilton common stock during the second quarter; bringing total capital return, including dividends, to $761 million for the quarter and $1,774 million year to date through August
- Full year 2024 system-wide RevPAR is projected to increase between 2.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2023; full year net income is projected to be between $1,532 million and $1,555 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
