Hilton Worldwide “exceeds” profit expectation in 2014

Tom Davis Monday, 23 February 2015, 10:51Last Updated: Monday, 23 February 2015, 10:51

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Hilton Worldwide has reported a 7.1% global increase in revenue per available room (RevPAR) in its full year results for 2014.

The firm also reported a 13.5% increase in its adjusted EBITDA which was up 13.5% to $2,508m (£1,624m).

The group added over 36,000 rooms to its global portfolio in 2014, with a further 82,000 rooms approved for development, which brings its total development pipeline to 230,000 rooms.

Hilton’s pipeline has continued to expand through the addition of two new hotel brands launched in 2014 – the lifestyle Canopy by Hilton brand and Curio – A Collection by Hilton.

Christopher Nassetta, president and CEO, said: “2014 was a banner year for Hilton Worldwide. Our fourth quarter and full year results exceeded our expectations for adjusted EBITDA and fee growth, as did our full-year RevPAR growth.

“Additionally, we continued to increase the value of shareholder equity by further reducing our long-term debt by $1bn through voluntary prepayments during 2014.”

Nassetta added that global RevPAR is expected to increase by between 5% and 7% in 2015.