Hilton Worldwide Reveals Its First Quarter 2024 Results

Hilton Worldwide Holdings Inc. unveiled its first quarter 2024 financial results today, showcasing several notable highlights:

• Earnings per share (EPS) stood at $1.04 for the quarter, while diluted EPS, adjusted for special items, reached $1.53.
• The company reported a net income of $268 million for the quarter.
• Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to $750 million during the first quarter.
• System-wide comparable revenue per available room (RevPAR) saw a two percent increase, measured on a currency-neutral basis, compared to the same period last year.
• The company greenlit the development of 29,800 new rooms during Q1, setting a record-high pipeline of 472,300 rooms as of March 31, 2024, marking a 10 percent growth from the same period in 2023.
• Hilton added 16,800 rooms to its system in the first quarter, resulting in a net addition of 14,200 rooms, contributing to a 5.6 percent net unit growth from March 31, 2023.
• The company repurchased 3.4 million shares of its common stock in the first quarter, with a total capital return, including dividends, reaching $701 million for the quarter and $908 million year-to-date through April.
• Hilton announced plans for the acquisition of the Graduate Hotels brand, expecting to incorporate approximately 35 franchised hotels into its portfolio in the second quarter.
• In April 2024, Hilton acquired a controlling financial interest in the Sydell Group, owner of the NoMad brand, marking the company's entry into the luxury lifestyle segment and presenting further luxury expansion opportunities.
• The company issued $1.0 billion of senior notes in March 2024, consisting of $550 million aggregate principal amount of 5.875 percent Senior Notes, due 2029, and $450 million aggregate principal amount of 6.125 percent Senior Notes, due 2032.
• For the full year 2024, Hilton anticipates a system-wide RevPAR increase between two percent and four percent on a comparable and currency-neutral basis compared to 2023. Net income for the full year is expected to range between $1,586 million and $1,621 million, with Adjusted EBITDA predicted to fall somewhere between $3,375 million and $3,425 million.
• The company anticipates a full-year 2024 capital return of approximately $3.0 billion.

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