Hilton Worldwide Holdings Inc. Reports Strong Second-Quarter Results

Shares of Hilton Worldwide Holdings Inc. (HLT) surged 0.6% in premarket trading on Wednesday, reaching a 14-month high. The hotel operator exceeded expectations for both profit and revenue in the second quarter, driven by increased occupancy rates and higher average daily rates.

Impressive Financial Performance

  • Net income rose to $411 million, or $1.55 per share, compared to $368 million, or $1.32 per share, in the same period last year.
  • Adjusted earnings per share of $1.63 surpassed the FactSet consensus of $1.58.
  • Total revenue grew by an impressive 18.8% to $2.66 billion, surpassing expectations set at $2.56 billion.
  • Systemwide comparable revenue per available room increased by a substantial 12.1%, driven by a 4.2 percentage point rise in occupancy to 74.6% and a 5.9% increase in average daily rates to $163.47.

Promising Outlook

Hilton Worldwide Holdings Inc. is confident in its prospects for the future and expects adjusted earnings per share between $5.93 and $6.06 for 2023, surpassing the FactSet consensus estimate of $5.92.

Market Performance

Hilton's stock has seen a solid 6.9% gain over the past three months through Tuesday, while the S&P 500 has advanced by 12.6%.

As Hilton continues to excel in the hotel industry, its second-quarter performance reflects its commitment to delivering exceptional experiences to its guests while driving strong financial results for shareholders.

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