Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We are pleased to report a strong fourth quarter, with both top and bottom line results exceeding our expectations. All segments drove RevPAR outperformance, with strong trends in leisure occupancy, as well as continued growth in business transient and group results, and we expect favorable trends to continue into 2025.
We also delivered the highest number of approvals, construction starts and openings in our history in 2024, helping us achieve net unit growth of 7.3 percent. With a development pipeline of nearly half a million rooms, we are confident that we are well positioned to deliver net unit growth between 6.0 percent and 7.0 percent in 2025." For the three months ended December 31, 2024, system-wide comparable RevPAR increased 3.5 percent compared to the same period in 2023 due to increases in both occupancy and ADR. Management and franchise fee revenues increased 4.8 percent compared to the same period in 2023.
For the year ended December 31, 2024, system-wide comparable RevPAR increased 2.7 percent compared to the same period in 2023 due to increases in both occupancy and ADR. Management and franchise fee revenues increased 9.1 percent compared to the same period in 2023.
For the three months ended December 31, 2024, diluted EPS was $2.06 and diluted EPS, adjusted for special items, was $1.76, compared to $0.57 and $1.68, respectively, for the three months ended December 31, 2023. Net income and Adjusted EBITDA were $505 million and $858 million, respectively, for the three months ended December 31, 2024, compared to $150 million and $803 million, respectively, for the three months ended December 31, 2023. For the year ended December 31, 2024, diluted EPS was $6.14 and diluted EPS, adjusted for special items, was $7.12, compared to $4.33 and $6.21, respectively, for the year ended December 31, 2023. Net income and Adjusted EBITDA were $1,539 million and $3,429 million, respectively, for the year ended December 31, 2024, compared to $1,151 million and $3,089 million, respectively, for the year ended December 31, 2023."
Summary:
Highlights include:
Diluted EPS was $2.06 for the fourth quarter and $6.14 for the full year, exceeding the high end of guidance
Diluted EPS, adjusted for special items, was $1.76 for the fourth quarter and $7.12 for the full year, exceeding the high end of guidance
Net income was $505 million for the fourth quarter and $1,539 million for the full year, exceeding the high end of guidance
Adjusted EBITDA was $858 million for the fourth quarter and $3,429 million for the full year, exceeding the high end of guidance
System-wide comparable RevPAR increased 3.5 percent and 2.7 percent, on a currency neutral basis, for the fourth quarter and full year, respectively, compared to the same periods in 2023, exceeding the high end of guidance
Approved 34,200 new rooms for development during the fourth quarter, bringing our development pipeline to 498,600 rooms as of December 31, 2024, representing growth of 8 percent from December 31, 2023
Added 22,600 rooms to our system in the fourth quarter, resulting in 98,400 room openings for the full year, contributing to net unit growth of 7.3 percent from December 31, 2023
Repurchased 3.1 million shares of Hilton common stock during the fourth quarter; bringing total capital return, including dividends, to $781 million for the quarter and $3.0 billion for the full year
Full year 2025 system-wide RevPAR is projected to increase between 2.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2024; full year net income is projected to be between $1,829 million and $1,858 million; full year Adjusted EBITDA is projected to be between $3,700 million and $3,740 million
Full year 2025 capital return is projected to be approximately $3.3 billion
Net unit growth for 2025 is expected to be between 6.0 percent and 7.0 percent
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