In a recent update, Hilton Worldwide Holdings reported robust third-quarter performance, exceeding revenue estimates and elevating its annual outlook. Bolstered by record lodging prices and increased occupancy rates, the hospitality giant showcased a remarkable rebound.
During the third-quarter conference call, Hilton officials unveiled impressive figures, with a net income of $379 million and adjusted EBITDA reaching $834 million. Notably, system-wide comparable RevPAR surged by 6.8 percent compared to the same period in 2022.
Returning to pre-pandemic levels, the report highlighted an 11.4 percent increase in system-wide comparable RevPAR for Q3 compared to 2019.
Hilton CEO Christopher Nassetta expressed satisfaction, stating, “We continued to see strong results during the third quarter, exceeding our expectations for system-wide RevPAR growth, with growth across all customer segments.”
The company’s expansion remains noteworthy, with 35,500 new rooms approved for development in Q3, pushing Hilton’s development pipeline to a record 457,300 rooms—an impressive 10 percent growth from September 2022. Additionally, the addition of 15,700 rooms in the third quarter underscores Hilton’s strategic growth.
Looking ahead, Hilton projects a robust full-year outlook. System-wide RevPAR is anticipated to increase between 12-12.5 percent compared to 2022, while the 2023 net income is estimated to range between $1.375-$1.389 billion. The full-year adjusted EBITDA is expected to fall between $3.025-$3.045 billion, with a projected capital return of $2.4-$2.6 billion in 2023.