Hilton sees RevPAR growth in Q2 results
The hotel company's net income for the Q2 was US $217 million, a 44% hike from the same period in 2017
Hilton Worldwide Holdings Inc. has released its Q2 results. The hotel company’s net income for the period was US $217 million, a 44% hike compared to the same period in 2017.
The adjusted Earnings before Interest, Taxes, Depreciation and Amortisation (EBITDA) for the period was registered as $555 million – a 10% rise compared to the same period last year. Hilton’s system-wide comparable RevPAR increased 4% on a currency neutral basis – this was driven by US RevPAR growth of 3.5% and international RevPAR growth of 5.9 %, a statement from the company said.
The hotel company has approved 28,800 new rooms for development during the Q2 bringing the total rooms in pipeline to 362,000 rooms as of June 30, 2018 registering a 9% growth from June 30, 2017. In terms of operational rooms, Hilton has opened 17,100 rooms in the Q2 with a net unit growth of 15,800 rooms - an 18% increase from the same period in 2017.
During the Q2, Hilton repurchased 18.5 million shares of Hilton common stock for a total cost of $1.3 billion. This included shares repurchased from HNA and Blackstone in connection with their full divestitures of their investments in Hilton, the statement noted.
And through July, Hilton reportedly returned $1.6 billion to shareholders in the form of share repurchases and dividends.