MCLEAN, Virginia—Hilton Worldwide Holdings Inc. reported its third quarter 2023 results. Highlights include:
- Diluted EPS was $1.44 for the third quarter, and diluted EPS, adjusted for special items, was $1.67
- Net income was $379 million for the third quarter
- Adjusted EBITDA was $834 million for the third quarter
- System-wide comparable RevPAR increased 6.8 percent, on a currency-neutral basis, for the third quarter compared to the same period in 2022
- System-wide comparable RevPAR increased 11.4 percent, on a currency-neutral basis, for the third quarter compared to the same period in 2019
- Approved 35,500 new rooms for development during the third quarter, bringing Hilton’s development pipeline to a record 457,300 rooms as of September 30, 2023, representing growth of 4 percent from June 30, 2023, and 10 percent from September 30, 2022
- Added 15,700 rooms to Hilton’s system in the third quarter, resulting in 14,300 net additional rooms in Hilton’s system during the period
- Repurchased 4.5 million shares of Hilton common stock during the third quarter, bringing total capital return, including dividends, to $723 million for the quarter and $1,938 million year to date through October
- Expanded its brand portfolio of open hotels, with the openings of the first Spark by Hilton and the first Tempo by Hilton during the third quarter
- Full-year 2023 system-wide RevPAR is expected to increase between 12.0 percent and 12.5 percent on a comparable and currency-neutral basis compared to 2022; full-year net income is projected to be between $1,375 million and $1,389 million; full-year Adjusted EBITDA is projected to be between $3,025 million and $3,045 million
- Full-year 2023 capital return is projected to be between $2.4 billion and $2.6 billion
Christopher J. Nassetta, president and CEO of Hilton, said, “We continued to see strong results during the third quarter, exceeding our expectations for system-wide RevPAR growth, with growth across all customer segments. We also continue to leverage our industry-leading portfolio of brands to drive further growth of our global network. We believe we have hit an inflection point and expect a meaningful uptick in openings in the fourth quarter with continued positive momentum into next year. With a record number of approvals year-to-date driving the largest pipeline in our history, we are confident in our ability to accelerate net unit growth to 5.5 percent to 6.0 percent next year.”
