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Hilton Reports First Quarter Results; Raises Full Year Outlook

MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2018 results. All results herein, including prior year, reflect the adoption of new accounting standards, including Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). Highlights include:

  • Diluted EPS was $0.51 for the first quarter, and diluted EPS, adjusted for special items, was $0.55, a 45 percent increase from the first quarter of 2017
  • Net income for the first quarter was $163 million
  • Adjusted EBITDA for the first quarter was $445 million, an increase of 9 percent from the same period in 2017
  • System-wide comparable RevPAR increased 3.9 percent on a currency neutral basis for the first quarter from the same period in 2017
  • Approved 25,700 new rooms for development during the first quarter, growing Hilton's development pipeline to 355,000 rooms as of March 31, 2018, representing 9 percent growth from March 31, 2017
  • Opened 10,600 rooms in the first quarter, a 7 percent increase from the same period in 2017, adding 7,100 net rooms
  • Repurchased 1.3 million shares of Hilton common stock for an aggregate cost of $110 million during the first quarter
  • In April 2018, repurchased 16.5 million shares of Hilton common stock from HNA for $1.17 billion in connection with HNA's full divestiture of its investment in Hilton
  • In April 2018, issued $1.5 billion aggregate principal amount of 5.125% Senior Notes due 2026 to facilitate the stock buyback from HNA and to repay approximately $500 million of Hilton's senior secured term loan facility
  • Raised guidance for full year 2018 system-wide comparable RevPAR growth to between 2.0 percent and 4.0 percent, an increase of 100 basis points at the mid point
  • Raised Adjusted EBITDA guidance for full year 2018 to between $2,060 million and $2,100 million
  • Raised capital return guidance for full year 2018 to between $1.7 billion and $1.9 billion

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About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 18 world-class brands comprising 7,000 properties and 1.1 million rooms, in 122 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed more than 3 billion guests in its more than 100-year history, earned a top spot on Fortune's 100 Best Companies to Work For list and been recognized as a global leader on the Dow Jones Sustainability Indices for five consecutive years. Hilton has introduced several industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the 139 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on  Facebook, Twitter, LinkedIn, Instagram and YouTube.