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
Hotel brand Hilton has reported a 20% increase in net income to $261m (£209m) in the group’s second quarter results.
Adjusted EBITDA for Q2 was $618m (£495m), an 11% increase from the same period in 2018, exceeding the high end of guidance, and system-wide comparable RevPAR increased 1.4% on a currency neutral basis for the second quarter from the same period in 2018.
Additionally, Hilton approved 28,100 new rooms for development during the period, growing Hilton’s development pipeline to approximately 373,000 rooms as of June 30, 2019. The brand also opened 17,100 rooms in the second quarter, contributing to 15,700 net additional rooms, on track to deliver approximately 6.5% net unit growth for the full year.
A statement by Hilton read: “Full year system-wide comparable RevPAR is expected to increase between 1% and 2% on a currency neutral basis; full year net income is projected to be between $887m (£711m) and $909m (£729m); full year Adjusted EBITDA is projected to be between $2,280m (£1,828m) and $2,310m (£1,853m).”
