Hilton Reports First Quarter Results; Raises Full Year Outlook

Hilton Worldwide today reported its first quarter 2023 results. Highlights include:

Diluted EPS was $0.77 for the first quarter, and diluted EPS, adjusted for special items, was $1.24
Net income was $209 million for the first quarter
Adjusted EBITDA was $641 million for the first quarter
System-wide comparable RevPAR increased 30.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2022
System-wide comparable RevPAR increased 8.0 percent, on a currency neutral basis, for the first quarter compared to the same period in 2019
Approved 24,900 new rooms for development during the first quarter, bringing Hilton's development pipeline to 428,100 rooms as of March 31, 2023
Added 9,200 rooms to Hilton's system in the first quarter, resulting in 5,300 net additional rooms in Hilton's system during the period
Repurchased 3.2 million shares of Hilton common stock during the first quarter, bringing total capital return, including dividends, to $487 million for the quarter and more than $602 million year to date through April
Full year 2023 system-wide RevPAR is expected to increase between 8 percent and 11 percent on a comparable and currency neutral basis compared to 2022; full year net income is projected to be between $1,331 million and $1,385 million; full year Adjusted EBITDA is projected to be between $2,875 million and $2,950 million
Full year 2023 capital return is projected to be between $1.8 billion and $2.2 billion

The Team

at LEADING HOTELIERS NETWORK / JOBLEAD SERVICE

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