by Donald Wood
Last updated: 12:20 AM ET, Thu July 28, 2022
Hilton Worldwide Holdings announced second quarter 2022 results, with net income being $367 million for the second quarter and EBITDA topping $679 million.
System-wide comparable revenue per available room (RevPAR) increased 54.3 percent during the second quarter compared to the same period in 2021, but remained down 2.1 percent compared to 2019.
Hilton's pipeline grew to 413,000 rooms as the hotel company approved 23,400 new rooms for development during the second quarter. Hilton brands also added 14,400 rooms to its portfolio during the same period.
As for full-year RevPAR, Hilton expects it to increase between 37 percent and 43 percent compared to 2021, while full-year net income is projected to be between $1.146 million and $1.216 million.
Full-year adjusted EBITDA is projected to be between $2.4 million and $2.5 million.
"Our second quarter results exceeded the high end of our guidance for system-wide comparable RevPAR, diluted EPS, adjusted for special items and Adjusted EBITDA," Hilton CEO Christopher J. Nassetta said. "Given our strong results in the quarter, coupled with our confidence in continued recovery throughout the year, we are raising our full year guidance, including our outlook for capital return."
Third-quarter projections have system-wide comparable RevPAR expected to increase between 25 percent and 30 percent compared to the third quarter of 2021 and between one percent and five percent from the third quarter of 2019.
Net income is projected to be between $303 million and $324 million for the third quarter, while adjusted EBITDA is projected to be between $660 million and $690 million.
Earlier this week, Hilton launched its first global brand platform showcasing the importance of the hotel stay, called "Hilton. For the Stay," launching a campaign called "It Matters Where You Stay" to help introduce the new platform.
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