Hilton reveals Q4 2019 results
Net income was US$176 million for the quarter
Hospitality group Hilton has released its results for the fourth quarter of 2019, along with how it fared in the year as a whole.
According to the report, the group saw RevPAR worldwide increase by 0.8%, coupled with an increased occupancy rate. In the fourth quarter however, RevPAR dropped by 1% compared to 2018, attributed to a drop in average daily rate (ADR).
Hilton also highlighted net income was at US$176 million for the quarter and $886 million for the full year. Adjusted earnings stood at $586 million in Q4 and $2.4 billion for the year.
In terms of development, the group opened 143 properties in Q4 2019, equating to 18,500 rooms. For the whole year, 470 hotels and 65,100 rooms were opened, marking a 6.6% growth compared to last year. As of December 31, 2019, Hilton’s pipeline came in at more than 2,570 properties and 387,000 rooms.
Middle East and Africa
The Middle East and Africa performed well in the final quarter, outperforming the US, Americas and Asia in terms of occupancy. The region recorded an occupancy rate of 75.7%, an ADR of $140.51 and a RevPAR of $106.41, making it the highest RevPAR across all regions.
For the full year in the region, occupancy was 73.8%, ADR was $144.66 and RevPAR was $106.7.
Hilton CEO Chris Nassetta said: "We delivered strong bottom-line results for the fourth quarter and full year. Adjusted EBITDA and diluted EPS, adjusted for special items, exceeded the high end of our guidance as a result of our resilient business model and strong net unit growth. We carry positive momentum into 2020 with expectations of continued strong net unit growth. We are also thrilled with the introduction of Tempo by Hilton, our new lifestyle brand that will provide another platform for growth in the future."