We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hilton Worldwide Holdings Inc. | NYSE:HLT.WI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0 | - |
Hilton Worldwide Holdings Inc. said profit fell in its latest quarter as higher expenses offset revenue growth.
The adjusted per-share earnings result topped the company's guidance. Systemwide revenue per available room—or RevPAR—a key industry gauge, rose a currency-adjusted 5.2%. The increase, at the low-end of the company's forecast, beat analysts' expectations.
The Virginia-based company has pushed growth recently by launching a new boutique hotel chain to attract a wider audience and adding hotels in markets including Latin America, where economic growth in some areas is driving demand for new lodging. More than half of the chain's roughly 250,000 rooms are located outside of the U.S.
Hilton said that over the quarter, net unit growth was about 11,000 rooms—up 56% from a year earlier. The company approved 24,000 new rooms for development during the second period.
In all for the quarter, Hilton reported a profit of $161 million, or 16 cents a share, down from $209 million, or 21 cents, a year earlier. Excluding certain items, like a loss on a capital lease amendment, per-share profit rose to 25 cents. Revenue grew 9.6% to $2.92 billion.
The company had projected 21 cents to 23 cents in per-share profit and RevPAR growth of 5% to 7%. Analysts surveyed by Thomson Reuters expected $2.92 billion in revenue.
Expenses jumped 11.6%.
Systemwide occupancy during the quarter was 79.2%, up 1.3 percentage points from a year earlier, with growth in all regions.
The hotel chain modestly lifted its full-year guidance range, now anticipating 80 cents to 84 cents in adjusted earnings per share, up from an earlier range of 79 cents to 83 cents and still bracketing the average analyst estimate. Hilton backed its 5% to 7% RevPAR growth forecast for the year.
For the current quarter, the company predicts 21 cents to 23 cents in adjusted per-share profit and 4.5% to 6.5% RevPAR growth. Analysts are looking for 23 cents in third-quarter earnings per share.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Hilton Worldwide Holdings Inc. Chart |
1 Month Hilton Worldwide Holdings Inc. Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions