Hilton sees profits rise following strong 2017

Hilton sees profits rise following strong 2017

Hilton Worldwide has reported diluted earnings per share of $2.61 for the fourth quarter and $3.85 for the full year, including, in each case, the provisional effect of tax reform in the US.

Adjusted for special items, the figures was $0.54 for the fourth quarter and $2.00 for the full year

Net income at the hotel giant was $841 million for the fourth quarter and $1,264 million for the full year.

This includes a $665 million provisional tax benefit for tax reform that occurred in the fourth quarter of last year.

Adjusted EBITDA was $498 million for the fourth quarter, an increase of ten per cent from the fourth quarter of 2016.

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At the same time, adjusted EBITDA was $1,965 million for the full year, an increase of 11 per cent on last year.

System-wide comparable RevPAR increased 3.8 per cent and 2.5 per cent for the fourth quarter and full year 2017, respectively, on a currency neutral basis from the same periods in 2016.

Hilton added 18,400 net rooms in the fourth quarter, totalling 51,600 net rooms for the full year, representing 6.5 per cent net unit growth.

Full year 2018 net income is projected to be between $802 million and $837 million.

Adjusted EBITDA, excluding the application of the new revenue recognition standard, is projected to be between $2,090 million and $2,140 million.