Hilton Reports First Quarter Results

MCLEAN, VA -- Hilton Worldwide Holdings Inc. ("Hilton," "the Company," "we," "us" or "our") (NYSE: HLT) today reported its first quarter 2024 results.

Highlights include:

• Diluted EPS was $1.04 for the first quarter, and diluted EPS, adjusted for special items, was $1.53
• Net income was $268 million for the first quarter
• Adjusted EBITDA was $750 million for the first quarter
• System-wide comparable RevPAR increased 2.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2023
• Approved 29,800 new rooms for development during the first quarter, bringing Hilton's development pipeline to a record 472,300 rooms as of March 31, 2024, representing growth of 10 percent from March 31, 2023
• Added 16,800 rooms to Hilton's system in the first quarter, resulting in 14,200 net additional rooms for the first quarter, contributing to net unit growth of 5.6 percent from March 31, 2023
• Repurchased 3.4 million shares of Hilton common stock during the first quarter; total capital return, including dividends, was $701 million for the quarter and $908 million year to date through April
• Announced the planned acquisition of the Graduate Hotels brand, including the expected addition of approximately 35 franchised hotels to our portfolio in the second quarter
• In April 2024, acquired a controlling financial interest in the Sydell Group, which owns the NoMad brand, marking Hilton's debut in the luxury lifestyle space and providing further luxury expansion opportunities
• In March 2024, issued $1.0 billion of senior notes consisting of: (i) $550 million aggregate principal amount of 5.875% Senior Notes due 2029 and (ii) $450 million aggregate principal amount of 6.125% Senior Notes due 2032
• Full year 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 projected to be between $1,586 million and $1,621 million; full year Adjusted EBITDA is projected to be between $3,375 million and $3,425 million
• Full year 2024 capital return is projected to be approximately $3.0 billion

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Hilton Reports First Quarter Results