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Hilton has announced net incomes of $209m (£168m) for Q1 causing the company to raise its full-year capital return guidance to between $1.8bn (£1.4bn) and $2.2bn (£1.8bn).
The company also announced an EBITDA of $641m (£514m) and a diluted earnings per share of $0.77 (£0.62).
The company’s system-wide comparable RevPAR increased 30.0% when compared with the same period last year and increased 8% compared with the same period in 2019.
Furthermore, 9,200 rooms were added to Hilton’s system in the first quarter, resulting in 5,300 net additional rooms.
Alongside this, 24,900 new rooms were approved for development during the first quarter, bringing Hilton’s development pipeline to 428,100 rooms as of March 31, 2023.
It added that full-year net income is projected to be between $1.33bn (1.07bn) and $1.39bn (£1.12bn) with full-year EBITDA projected to be between $2.87bn (£2.30bn) and $2.95bn (£2.37bn).
System-wide RevPAR for the full year is expected to increase between 8% and 11% compared with 2022.
Christopher J. Nassetta, president and CEO, said: “We carried strong momentum into 2023, exceeding the high end of our guidance for system-wide RevPAR, driving strong bottom-line results and delivering meaningful free cash flow available for return to our shareholders. As a result of our strong performance and positive outlook, we are raising our Adjusted EBITDA guidance for the full year.”
