Hilton Revises Q202 RevPAR Guidance

BEVERLY HILLS, Calif., May 29, 2002 (BUSINESS WIRE)—Hilton Hotels Corporation (NYSE:HLT), in connection with meetings today with investors, said that revenue-per-available-room (RevPAR) at its comparable owned hotels is expected to decline by approximately 5 percent in the second quarter 2002 from the same quarter last year.
The RevPAR decline is below the company`s previously issued guidance, and is the result of average daily room rates not improving as much as anticipated during the quarter.

The company said, however, that the second-quarter earnings before interest, taxes, depreciation, amortization and non-cash items (EBITDA) guidance provided in its April 23 earnings press release—in the $300 million range—remains in place, with diluted earnings per share expected in the $0.20 range, due to better-than-anticipated EBITDA margins at the company`s comparable owned hotels (solidly in the mid-30 percent range) and continued strength in its timeshare business.

Hilton will report financial results for the second quarter on July 30.