Hilton reports increase in earnings per share for third quarter

Hilton reports increase in earnings per share for third quarter

Hilton Worldwide has reported diluted earnings per share for the third quarter of $0.55 and diluted EPS, adjusted for special items, of $0.56.

The figures are an increase of 37 per cent from the third quarter of 2016 on a pro forma basis.

Net income for the third quarter was $181 million, while adjusted EBITDA for the period was $524 million, an increase of 11 per cent from pro forma Adjusted EBITDA for the third quarter of 2016.

Hilton reported that system-wide comparable RevPAR increased 1.3 percent on a currency neutral basis for the third quarter compared to the prior year, while the company added 12,000 net rooms.

The company also approved 23,400 new rooms for development during the third quarter, growing its development pipeline to a record 335,000 rooms, representing 13 per cent growth from September 30th, 2016

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Full year 2018 system-wide RevPAR is expected to increase between one per cent and three per cent on a comparable and currency neutral basis compared to 2017; net unit growth is expected to be approximately 6.5 per cent.

Hilton repurchased 4.3 million shares of common stock for an aggregate cost of $273 million during the third quarter, bringing total capital return year to date, including dividends, to approximately $840 million.