Hilton beats Q3 earnings

Hilton reported on Thursday adjusted EBITDA of US$524 million for Q3, above consensus of US$502 million. Adjusted earnings per share of US$0.56 beat the consensus estimate of US$0.50. Margins were also strong at +170 basis points. Hilton also reported 3Q17 U.S. RevPAR growth declined 0.1%, which was offset by strength in Asia Pacific (+8.3%) and Europe (+8%).

Ownership RevPAR grew 6.2%. For the full-year, Hilton expects 1%-3% system-wide RevPAR growth, which also is the range the company is forecasting for 4Q17. Initial outlook for 2018 calls for 1%-3% RevPAR growth, assuming “stable to moderately improving fundamentals.” Hilton’s development pipeline hit a record 335,000 rooms in Q3, a 13% rise over the same quarter in 2016. It expects net unit growth of approximately 6.5% in 2018.

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