MCLEAN, Va. - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its third quarter 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 $0.54 for the third quarter, a 10 percent increase from the same period in 2017, and diluted EPS, adjusted for special items, was $0.77, a 38 percent increase from the same period in 2017
- Net income for the third quarter was $164 million, a modest increase from the same period in 2017
- Adjusted EBITDA for the third quarter was $557 million, an increase of 9 percent from the same period in 2017
- System-wide comparable RevPAR increased 2.0 percent on a currency neutral basis for the third quarter from the same period in 2017
- Approved 29,200 new rooms for development during the quarter, growing Hilton's development pipeline to more than 371,000 rooms as of September 30, 2018, representing 11 percent growth from September 30, 2017
- Opened 16,100 rooms in the third quarter and achieved net unit growth of 14,800 rooms, which was a 24 percent increase from the same period in 2017
- Launched urban, lifestyle micro-hotel brand, Motto by Hilton
- Repurchased over 1.5 million shares of Hilton common stock for an aggregate cost of $122 million during the third quarter
- Returned $1.7 billion to stockholders through October in the form of share repurchases and dividends
- Full year 2018 system-wide RevPAR is expected to increase between 3.0 percent and 3.5 percent on a comparable and currency neutral basis compared to 2017; Full year 2018 Adjusted EBITDA is expected to be between $2,075 million and $2,095 million
- Full year 2019 system-wide RevPAR is expected to increase between 2.0 percent and 4.0 percent on a comparable and currency neutral basis compared to 2018; net unit growth is expected to be approximately 6 percent to 7 percent
