Hilton’s Q4 and full year results: strong performance reported

Thursday, February 8, 2024

Hilton Worldwide Holdings Inc. (referred to as “Hilton,” “the Company,” “we,” “us,” or “our”) (NYSE: HLT) has released its financial results for the fourth quarter and full year of 2023. Key highlights from the report include:

– Diluted earnings per share (EPS) stood at $0.57 for the fourth quarter and $4.33 for the entire year.
– Adjusted diluted EPS, accounting for special items, amounted to $1.68 for the fourth quarter and $6.21 for the full year.
– Net income totaled $150 million for the fourth quarter and $1,151 million for the full year.
– Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $803 million for the fourth quarter and $3,089 million for the full year.
– System-wide comparable revenue per available room (RevPAR) witnessed a 5.7 percent increase in the fourth quarter and a 12.6 percent increase for the full year on a currency-neutral basis compared to the same periods in 2022.
– System-wide comparable RevPAR grew by 13.5 percent in the fourth quarter and 10.7 percent for the full year on a currency-neutral basis compared to the same periods in 2019.
– In the fourth quarter, the company approved the development of 33,800 new rooms, resulting in a record development pipeline of 462,400 rooms as of December 31, 2023, marking an 11 percent growth from December 31, 2022.
– A record 24,000 rooms were added to Hilton’s system in the fourth quarter, contributing to 62,900 room openings for the full year, reflecting a net unit growth of 4.9 percent.
– Hilton repurchased 4.6 million shares of its common stock during the fourth quarter, totaling $784 million in capital return for the quarter and $2.5 billion for the full year.
– The company announced a new, exclusive partnership with Small Luxury Hotels of the World (“SLH”), which will expand distribution of luxury hotels over the coming months.
– For the full year of 2024, system-wide RevPAR is projected to increase between 2.0 percent and 4.0 percent on a comparable and currency-neutral basis compared to 2023. Full-year net income is expected to be between $1,694 million and $1,729 million, while full-year Adjusted EBITDA is projected to range from $3,330 million to $3,380 million.
– The projected capital return for the full year 2024 is approximately $3.0 billion.

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