Hilton exceeds guidance with strong second quarter results

Hilton exceeds guidance with strong second quarter results

Hilton Worldwide has reported net income for the second quarter of $217 million, an increase of 44 per cent from the same period in 2017.

Diluted earnings per share was $0.71 for the second quarter, a 54 per cent increase from the same period in 2017, while diluted earnings per share, adjusted for special items, was $0.70, a 37 per cent increase from the same period last year.

Adjusted EBITDA for the second quarter was $555 million, an increase of ten per cent from the same period in 2017, exceeding the high end of guidance.

Hilton approved 28,800 new rooms for development during the second quarter, growing its development pipeline to 362,000 rooms as of June 30th.

This is a nine per cent increase from the same date last year.

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System-wide comparable RevPAR increased four per cent per cent on a currency neutral basis for the second quarter from the same period in 2017.

This was driven by US RevPAR growth of 3.5 per cent and international RevPAR growth of 5.9 per cent.

Hilton opened 17,100 rooms in the second quarter and achieved net unit growth of 15,800 rooms, which was an 18 percent increase from the same period in 2017.