MCLEAN, VA - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2018 results. All results herein, including prior year, 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 $0.51 for the first quarter, and diluted EPS, adjusted for special items, was $0.55, a 45 percent increase from the first quarter of 2017
- Net income for the third quarter was $163 million
- Adjusted EBITDA for the first quarter was $445 million, an increase of 9 percent from the same period in 2017
- System-wide comparable RevPAR increased 3.9 percent on a currency neutral basis for the first quarter from the same period in 2017
- Approved 25,700 new rooms for development during the first quarter, growing Hilton's development pipeline to 335,000 rooms as of March 31, 2018, representing 9 percent growth from March 31, 2017
- Opened 10,600 rooms in the first quarter, a 7 percent increase from the same period in 2017, adding 7,100 net rooms
- Repurchased 1.3 million shares of Hilton common stock for an aggregate cost of $110 million during the first quarter
- In April 2018, repurchased 16.5 million shares of Hilton common stock from HNA for $1.17 billion in connection with HNA's full divestiture of its investment in Hilton
- In April 2018, issued $1.5 billion aggregate principal amount of 5.125% Senior Notes due 2026 to facilitate the stock buyback from HNA and to repay approximately $500 million of Hilton's senior secured term loan facility
- Raised guidance for full year 2018 system-wide comparable RevPAR growth to between 2.0 percent and 4.0 percent, an increase of 100 basis points at the mid point
- Raised Adjusted EBITDA guidance for full year 2018 to between $2,060 million and $2,100 million
- Raised capital return guidance for full year 2018 to between $1.7 billion and $1.9 billion
