Hilton Worldwide Holdings has announced a net income of $422m for the second quarter (Q2) of 2024, reflecting a 2.17% increase from $413m in the same period of 2023.
The company’s basic earnings per share (EPS) rose from $1.56 to $1.69 over this period, while diluted EPS increased from $1.55 to $1.67.
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Total revenue for the quarter ending 30 June 2024 reached $2.95bn, marking a 10.9% rise from $2.66bn in Q2 2023.
Operating income for Q2 2024 stood at $725m, up from $674m in the corresponding quarter of the previous year.
Hilton’s total expenses rose to $2.22bn from $1.98bn.
The company witnessed a 3.5% increase in system-wide comparable revenue per available room (RevPAR) to $123.30, on a currency-neutral basis, compared with Q2 2023.
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By GlobalDataThe hotel giant also reported an uptick in system-wide comparable occupancy to 75.3%, which is a 1.3 percentage point rise from the previous year.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at $917m, versus $811m in Q2 2023.
Hilton approved 62,700 new rooms for development during the quarter, bringing its development pipeline to a record 508,300 rooms.
The company added 22,400 rooms to its system in Q2, resulting in a net addition of 18,000 rooms, contributing to a net unit growth of 6.2% from 30 June 2023.
Hilton also completed the acquisition of the Graduate Hotels brand in May, after signing the agreement in March.
According to a financial report from Hilton, the company’s net income for the first quarter (Q1) of 2024 was $268m and total revenue was $2.57bn.
For the first half (H1) of 2024, Hilton recorded a net income of $690m, an increase from $622m in H1 2023.
Total revenue for H1 2024 was $5.52bn, up from $4.95bn in the previous year, while operating income increased to $1.25bn from $1.17bn.
Looking ahead to the full year of 2024, Hilton projects a net income of $1.53-1.55bn, with adjusted EBITDA expected to be between $3.37bn and $3.4bn.
