Hilton reveals Q3 2019 results

Group recorded a 77% rise in its net income

A total of 17,400 rooms were opened in the third quarter, contributing to 15,600 net additional rooms, on track to deliver approximately 6.5% net unit growth for the full year. Image used for illustrative purpose only
A total of 17,400 rooms were opened in the third quarter, contributing to 15,600 net additional rooms, on track to deliver approximately 6.5% net unit growth for the full year. Image used for illustrative purpose only

Hospitality giant Hilton has revealed its performance for Q3 2019.

According to officials, the group recorded an increase of 77% in its net income taking the total to $290 million, when compared to the same period last year.

Full year 2019 system-wide comparable RevPAR is expected to increase approximately 1% on a currency neutral basis when compared to 2018; while the full year net income is projected to be between $923 million and $937 million.

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Development

In the third quarter, Hilton approved 25,200 new rooms for development, increasing the group’s development pipeline to 379,000 rooms as of September 30, 2019.

A total of 17,400 rooms were opened in the third quarter, contributing to 15,600 net additional rooms, on track to deliver approximately 6.5% net unit growth for the full year.


Performance indicators

For Q3, system-wide comparable RevPAR grew 0.4% driven by increased occupancy.

Management and franchise fee revenues increased 6% during the three months in Q3, due to RevPAR growth of 0.3% at comparable managed and franchised hotels.

And for the first nine months of 2019, system-wide comparable RevPAR grew 1.2% driven by increases in both ADR and occupancy.

During the first nine months, management and franchise fee revenues increased 8% as a result of RevPAR growth at comparable managed and franchised hotels of 1.2%.

Additionally, management and franchise fee revenues increased due to increased licensing and other fees and the addition of new properties to Hilton's portfolio.

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