Robust Travel Demand Spurs Hilton to Strong Second Quarter

Hilton Worldwide reported second-quarter financial results on Wednesday, beating Wall Street estimates and raising its full-year outlook.

The hotel giant's revenue per available room or RevPAR rose by more than 12 percent compared to the same quarter in 2022 while revenue for the period climbed about 19 percent to $2.66 billion.

Hilton is now anticipating full-year adjusted profit between $5.93 and $6.06 per share, edging out its previous forecast of $5.68 to $5.88 per share.

"System-wide comparable RevPAR continued to expand throughout the quarter, experiencing growth across all of our customer segments and regions, driven by strong preference for our brands," Hilton President and CEO Christopher Nassetta said in a statement.

"Our top line performance yielded meaningful bottom line results, as we exceeded the high end of our guidance for Adjusted EBITDA and diluted EPS, adjusted for special items. We continue to drive long-term growth of our global network through the launch of strategic, new brands and have already added over 60,000 rooms to our development pipeline during 2023."

Hilton approved 36,000 new rooms for development during the second quarter, bringing its development pipeline to 440,900 rooms as of June 30, 2023. That figure represents growth of 7 percent from June 30, 2022.

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