Register to get 3 free articles
Register to unlock the article and receive our free newsletter. Join 26,000 other hotel leaders and stay in the know.
Want unlimited access? View Plans
Already have an account? Sign in
Hilton has revealed its Q3 has exceeded expectations as it saw net incomes hit $346m (£299m).
Adjusted EBITDA was $732m (£633m) for the third quarter, again exceeding the high end of its guidance. It also confirmed system-wide comparable RevPAR increased 29.9%, on a currency neutral basis, for the third quarter compared to the same period in 2021.
Meanwhile, system-wide comparable RevPAR increased 5%, on a currency neutral basis, compared with the same period in 2019.
During the period, the hotel giant also approved 19,900 new rooms for development during Q3, bringing Hilton’s development pipeline to 416,000 rooms as of September 30, 2022. It also added 80 hotels, comprising 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.
Christopher J. Nassetta, president and CEO, 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 trends to continue throughout the fourth quarter with system-wide RevPAR once again exceeding prior peaks.”
