Global/Corporate News

Hilton Reports Third Quarter Results; Spin-Off Transactions on Track for End of Year

October 26, 2016
 

MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton," or the "Company") (NYSE: HLT) today reported its third quarter 2016 results. Highlights include:

  • EPS for the third quarter was $0.19 and EPS, adjusted for special items, was $0.23; net income for the third quarter was $192 million
  • Adjusted EBITDA for the third quarter was $765 million and Adjusted EBITDA margin was 41.6 percent
  • System-wide comparable RevPAR increased 1.3 percent for the third quarter on a currency neutral basis from the same period in 2015 
  • Management and franchise fees for the third quarter increased 7 percent from the same period in 2015 to $470 million
  • Approved 27,000 new rooms for development during the third quarter, bringing year-to-date approvals to 77,000 rooms
  • Grew development pipeline 15 percent from 2015 to 1,898 hotels, consisting of 300,000 rooms
  • Net unit growth was 13,100 rooms in the third quarter, representing a 7 percent growth in managed and franchised rooms from 2015
  • Opportunistically entered the capital markets to enhance Hilton's balance sheet by issuing $1 billion aggregate principal amount of 4.25% senior notes due 2024 and amending and extending $3,225 million of the Term Loans; repaid $991 million of long-term debt
  • On track to complete the spin-off transactions of Park Hotels & Resorts and Hilton Grand Vacations around year end
  • Hilton plans to host an investor day on December 8, 2016 at the Conrad New York  

Click here to view the full release.