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Hilton has reported net income of $344m (£265m) during its third quarter, down from $379m (£292m) a year prior.
The hotel giant also posted adjusted EBITDA of $904m (£696m), up from $834m (£642), and revealed that system-wide comparable RevPAR increased 1.4% compared with the same period in 2023 due to increases in both occupancy and ADR.
Meanwhile, management and franchise fee revenues increased 8.3% compared with the same period in 2023.
It also confirmed that for the three months ended September 30, 2024, diluted EPS was $1.38 (£1.06) and diluted EPS, adjusted for special items, was $1.92 (£1.48) compared with $1.44 and $1.67 (£1.11 and £1.29) respectively.
During the period, Hilton opened 531 hotels, totalling 36,600 rooms, resulting in 33,600 net room additions.
NoMad, Graduate by Hilton and Small Luxury Hotels of the World all became available for reservations on its booking channels. The addition of SLH hotels brings its hotel portfolio to ten additional countries and territories.
Hilton also continued to expand its presence in the Asia Pacific market, surpassing 900 hotels in the region and opening its 700th hotel in China.
The company also added 27,500 rooms to the development pipeline during the third quarter, and, as of September 30, 2024, its development pipeline totaled 3,525 hotels representing 492,400 rooms throughout 120 countries and territories, including 28 countries and territories where Hilton had no existing hotels. Additionally, of the rooms in the development pipeline, 235,400 were under construction and 280,700 were located outside of the U.S.
Christopher J. Nassetta, president and CEO of Hilton, said: “We were pleased to deliver continued strong bottom line results that exceeded our guidance, despite slower top line growth which was driven by modestly slower macro trends, weather impacts and unfavourable calendar shifts.
“We continued to demonstrate the strength of our model, opening more rooms than any other quarter in our history, surpassing 8,000 hotels and achieving net unit growth of 7.8%.”
