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Hotel giant Hilton has reported a 9% increase in EBITDA to £405 against what it called a “slowing macro environment”.
For the three month period ending 30 September Hilton recorded system-wide comparable RevPAR growth of 0.4% and said it saw net income jump 77% to £225m.
Hilton also added it approved 25,200 new rooms for development during the third quarter, growing Hilton’s development pipeline to 379,000 rooms as of September 30, 2019.It also opened 17,400 rooms, contributing to 15,600 net additional rooms, on track to deliver approximately 6.5% net unit growth for the full year
In addition, it said it had repurchased 4.5 million shares of Hilton common stock during the third quarter, bringing total capital return, including dividends, to approximately $362m for the quarter and £934m year to date through September.
Christopher J. Nassetta, president and CEO of Hilton, said: “Despite the overall slowing macro environment, we are pleased to deliver strong bottom-line results for the third quarter.
“Adjusted EBITDA was towards the high end of guidance and diluted EPS, adjusted for special items, exceeded our expectations, driven by strong net unit growth. Additionally, we continue to achieve market share gains across all brands and regions year to date.”
