MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) reported its third quarter 2017 results. All results herein present the performance of Hilton giving effect to the spin-offs of Park Hotels & Resorts Inc. ("Park") and Hilton Grand Vacations Inc. ("HGV") on January 3, 2017 (the "spin-offs"), with the historical financial results of Park and HGV reflected as discontinued operations. Additionally, all share and share-related information presented herein for periods prior to January 3, 2017 have been retrospectively adjusted to reflect the 1-for-3 reverse stock split of Hilton's outstanding common stock that occurred on January 3, 2017 (the "Reverse Stock Split"). Highlights include:
- Diluted EPS for the third quarter was $0.55 and diluted EPS, adjusted for special items, was $0.56, an increase of 37 percent from the third quarter of 2016 on a pro forma basis
- Net income for the third quarter was $181 million
- Adjusted EBITDA for the third quarter was $524 million, an increase of 11 percent from pro forma Adjusted EBITDA for the third quarter of 2016
- Adjusted EBITDA margin was 56.9 percent, an increase of 170 basis points from pro forma Adjusted EBITDA margin for the third quarter of 2016
- System-wide comparable RevPAR increased 1.3 percent on a currency neutral basis for the third quarter compared to the prior year
- Added 12,000 net rooms in the third quarter
- Approved 23,400 new rooms for development during the third quarter, growing Hilton's development pipeline to a record 335,000 rooms, representing 13 percent growth from September 30, 2016
- Repurchased 4.3 million shares of Hilton common stock for an aggregate cost of $273 million during the third quarter, bringing total capital return year to date, including dividends, to approximately $840 million
- Raised Adjusted EBITDA guidance for full year 2017 to between $1,920 million and $1,940 million, an increase of $30 million at the midpoint
- Full year 2018 system-wide RevPAR is expected to increase between 1.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2017; net unit growth is expected to be approximately 6.5 percent
