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Hilton has announced income of $333m (£275m) for Q4 and $1.3bn (£1.1bn) for the year ended 31 December 2022, exceeding the high end of its guidance.
The company also posted an adjusted EBITDA of $740m (£611m) for Q4 and $2.6bn (£2.2bn) for the year, again exceeding the high end of guidance.
Hilton’s RevPAR increased 24.8% in Q4 and 42.5% for the full year on a currency neutral basis compared to the same periods in 2021. RevPAR increased 7.5% and decreased 1.3% for Q4 and full year, compared with the same periods in 2019.
The company has also approved 24,400 new rooms for development during the fourth quarter, bringing its development pipeline to 416,400 rooms as of 31 December 2022.
It also added 17,700 rooms to its system in Q4, resulting in 48,300 net additional rooms in Hilton’s system for the full year, contributing to net unit growth of 4.7%.
However, Q4 openings were affected by the ongoing covid environment in China.
As such, the company stated that its full-year 2023 net unit growth is expected to be between 5% and 5.5%.
FY23 system-wide RevPAR is expected to increase between 4% and 8% on a comparable and currency neutral basis compared to 2022.
Finally, it said full-year net income is projected to be between $1.4bn (£1.2bn)and $1.5bn (£1.3bn) with full-year adjusted EBITDA is projected to be between $2.8bn (£2.3bn) and $2.9bn (£2.4bn).
