Hilton today reported its third quarter 2022 results
- EDITOR
- Oct 26, 2022
- 2 min read
Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "The third quarter marked an important milestone in our recovery as system-wide RevPAR exceeded the same period in 2019 for the first time since the pandemic began. Our diluted EPS, adjusted for special items and Adjusted EBITDA exceeded the high end of our guidance. Improved performance reflected the continued strength in leisure travel, as well as recovering business transient and group demand. We expect these strong rends to continue throughout the fourth quarter with system-wide RevPAR once again exceeding prior peaks." --- Continue reading here
Highlights include:
Diluted EPS was $1.26 for the third quarter, and diluted EPS, adjusted for special items, was $1.31
Net income was $346 million for the third quarter, exceeding the high end of guidance
Adjusted EBITDA was $732 million for the third quarter, exceeding the high end of guidance
System-wide comparable RevPAR increased 29.9 percent, on a currency neutral basis, for the third quarter compared to the same period in 2021
System-wide comparable RevPAR increased 5.0 percent, on a currency neutral basis, for the third quarter compared to the same period in 2019
Approved 19,900 new rooms for development during the third quarter, bringing Hilton's development pipeline to 416,000 rooms as of September 30, 2022
Added 12,900 rooms to Hilton's system in the third quarter, contributing to 12,100 net additional rooms in Hilton's system during the period
Repurchased 4.0 million shares of Hilton common stock during the third quarter, bringing total capital return, including dividends, to $538 million for the quarter and $1,324 million year to date through October
Full year 2022 system-wide comparable RevPAR is expected to increase between 40 percent and 43 percent, on a currency neutral basis, compared to 2021; full year net income is projected to be between $1,219 million and $1,240 million; full year Adjusted EBITDA is projected to be between $2,500 million and $2,530 million
Full year 2022 capital return is projected to be between $1.5 billion and $1.9 billion
Link directly to source: Hilton Reports Third Quarter Results; Exceeds Expectations
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