Hilton Worldwide has reported a diluted loss per share of $1.17 for the fourth quarter of financial 2016, largely driven by $513 million of non-cash corporate restructuring charges.
These charges were incurred during the spin-off of Park Hotels & Resorts and Hilton Grand Vacations in January this year.
The spin-offs saw Hilton split off of a chunk of its hotels business into a real-estate investment trust.
Hilton also completed the separation of its timeshare business and turned Hilton into three distinct entities: Hilton Worldwide, Park Hotels & Resorts and Hilton Grand Vacations.
For the full year diluted earnings per share was $1.05.
Diluted earnings per share, adjusted for special items, was $0.70 for the fourth quarter and $2.68 for the full year.
Adjusted EBITDA was $751 million for the fourth quarter and $2,975 million for the full year; pro forma Adjusted EBITDA was $1,763 million for the full year.
Net loss for the fourth quarter was $382 million, and net income for the full year was $364 million.
Hilton Worldwide approved 29,000 new rooms for development during the fourth quarter, bringing total approvals to a record 106,000 rooms for the full year.
The grew the development pipeline at the company by 16 per cent from 2015, to 1,968 hotels, consisting of 310,000 rooms, 50 per cent of which are under construction
Hilton also added 354 hotels to its system in 2016, opening nearly one hotel per day in the year.
Full year 2017 RevPAR was projected to increase between one and three per cent, and net income from continuing operations projected to be between $555 million and $592 million.