Hilton Reports Fourth Quarter and Full Year Results; Exceeds Net Income, Adjusted EBITDA and Net Unit Growth Expectations
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MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2018 results. All results herein, including prior year periods, reflect the adoption of new accounting standards, including Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). Highlights include:
- Diluted EPS was $0.75 for the fourth quarter and $2.50 for the full year, and diluted EPS, adjusted for special items, was $0.79 for the fourth quarter and $2.79 for the full year
- Net income was $225 million for the fourth quarter and $769 million for the full year
- Adjusted EBITDA was $544 million for the fourth quarter and $2,101 million for the full year, exceeding the high end of guidance
- System-wide comparable RevPAR increased 2.0 percent and 3.0 percent, respectively, for the fourth quarter and full year on a currency neutral basis from the same periods in 2017
- Approved 24,900 new rooms for development during the fourth quarter, growing Hilton's development pipeline to more than 364,000 rooms as of December 31, 2018, representing 6 percent growth from December 31, 2017
- Opened 22,500 rooms in the fourth quarter, contributing to 57,000 net additional rooms for the full year, which represented approximately 7 percent net unit growth
- Launched luxury collection brand, LXR Hotels & Resorts
- Repurchased 23.5 million shares of Hilton common stock during 2018, bringing total capital return, including dividends, to approximately $1.9 billion for the full year
- Full year 2019 system-wide RevPAR is expected to increase between 1.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2018; full year net income is projected to be between $895 million and $931 million; full year Adjusted EBITDA is projected to be between $2,240 million and $2,290 million
- Capital return is projected to be between $1.3 billion and $1.8 billion
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About Hilton
Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 17 world-class brands comprising more than 5,600 properties with nearly 913,000 rooms, in 113 countries and territories. Dedicated to fulfilling its mission to be the world’s most hospitable company, Hilton earned a spot on the 2018 world’s best workplaces list, and has welcomed more than 3 billion guests in its nearly 100 year history. Through the award-winning guest loyalty program, Hilton Honors, nearly 85 million members who book directly with Hilton have access to instant benefits, including digital check-in with room selection, Digital Key, and Connected Room. Visit newsroom.hilton.com for more information, and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram, and YouTube.
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