Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on Thursday 27 October 2016
Hilton Worldwide Holdings Inc. ("Hilton," or the "Company") (NYSE: HLT) today reported its third quarter 2016 results. Highlights include:
- EPS for the third quarter was $0.19 and EPS, adjusted for special items, was $0.23; net income for the third quarter was $192 million
- Adjusted EBITDA for the third quarter was $765 million and Adjusted EBITDA margin was 41.6 percent
- System-wide comparable RevPAR increased 1.3 percent for the third quarter on a currency neutral basis from the same period in 2015
- Management and franchise fees for the third quarter increased 7 percent from the same period in 2015 to $470 million
- Approved 27,000 new rooms for development during the third quarter, bringing year-to-date approvals to 77,000 rooms
- Grew development pipeline 15 percent from 2015 to 1,898 hotels, consisting of 300,000 rooms
- Net unit growth was 13,100 rooms in the third quarter, representing a 7 percent growth in managed and franchised rooms from 2015
- Opportunistically entered the capital markets to enhance Hilton's balance sheet by issuing $1 billion aggregate principal amount of 4.25% senior notes due 2024 and amending and extending $3,225 million of the Term Loans; repaid $991 million of long-term debt
- On track to complete the spin-off transactions of Park Hotels & Resorts and Hilton Grand Vacations around year end
- Hilton plans to host an investor day on December 8, 2016 at the Conrad New York
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