Hilton Worldwide Exceeds High End of Guidance for First Quarter 2015 Adjusted EBITDA; Raises Full Year Outlook (United States)
Hilton Worldwide Holdings Inc. ("Hilton," "Hilton Worldwide" or the "Company") (NYSE: HLT) today reported its first quarter 2015 results and raised its full year 2015 outlook. Highlights include:
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Hilton Worldwide Exceeds High End of Guidance for First Quarter 2015 Adjusted EBITDA; Raises Full Year Outlook (United States)
Hilton Worldwide Holdings Inc. ("Hilton," "Hilton Worldwide" or the "Company") (NYSE: HLT) today reported its first quarter 2015 results and raised its full year 2015 outlook. Highlights include:
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Category: North America & West Indies / Carribean islands - United States - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2015-05-06
- EPS was $0.15 for the first quarter, a 25 percent increase from the same period in 2014; EPS, adjusted for special items was $0.12
- Net income attributable to Hilton stockholders for the first quarter was $150 million, a 22 percent increase from the same period in 2014
- Adjusted EBITDA for the first quarter increased 18 percent from the same period in 2014 to $599 million and Adjusted EBITDA margin increased 320 basis points
System-wide comparable RevPAR increased 6.6 percent for the first quarter on a currency neutral basis from the same period in 2014
- Management and franchise fees for the first quarter increased 18 percent from the same period in 2014 to $391 million
- Gross operating profit margins for U.S. comparable owned and operated hotels increased over 120 basis points for the first quarter compared to the same period in 2014
- Opened more than 8,000 rooms in the first quarter
- Approved more than 23,000 new rooms for development during the first quarter, growing its development pipeline to 1,432 hotels, consisting of 240,000 rooms, as of March 31, 2015
- Reduced long-term debt by $225 million during the first quarter; additional $100 million voluntary prepayment of senior secured term loan facility in April 2015
- ntered into an agreement to sell Hilton Sydney for A$442 million Australian Dollars in a tax-efficient manner; upon closing, plan to use proceeds, net of transaction costs, to further reduce long-term debt
- Entered into an agreement to acquire what is currently the Cypress Hotel in Cupertino, California for $112 million, reinvesting the last portion of the Waldorf Astoria New York sale proceeds
- Increased outlook for full year Adjusted EBITDA to between $2,810 million and $2,870 million
Overview For the three months ended March 31, 2015, earnings per share ("EPS") was $0.15 compared to $0.12 for the three months ended March 31, 2014, and EPS, adjusted for special items, was $0.12 for the three months ended March 31, 2015 compared to $0.13 for three months ended March 31, 2014. Adjusted EBITDA increased 18 percent to $599 million for the three months ended March 31, 2015, compared to $508 million for the three months ended March 31, 2014 and net income attributable to Hilton stockholders was $150 million for the three months ended March 31, 2015 compared to $123 million for the three months ended March 31, 2014.
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