Hilton Hotels Reports Mixed Q3 Results

  • Hilton Hotels Corp HLT reported third-quarter FY21 sales growth of 87% year-on-year, to $1.749 billion, beating the analyst consensus of $1.65 billion.
  • Franchise and licensing fees revenue rose 87% Y/Y, and the Owned and leased hotels revenue increased 111.7%.
  • The occupancy rate for the quarter was 67.9% in the U.S., 59.3% in Europe, and 52.9% in Middle East & Africa. In total, the System-wide occupancy rate was 64.3%.
  • System-wide comparable RevPAR increased 98.7 Y/Y but decreased 18.8% versus the same period in 2019.
  • Total expenses for the quarter rose 41.9%. The operating margin was 24.6%, and operating income for the quarter was $432 million versus $11 million last year.
  • Adjusted EBITDA of $519 million increased 131.6% Y/Y. Adjusted EBITDA margin expanded 1190 basis points to 69.0%.
  • Adjusted EPS of $0.78 missed the analyst consensus of $0.85.
  • Hilton held $1.4 billion in cash and equivalents as of September 30, 2021.
  • Hilton expects full year 2021 net unit growth to be 5.0% - 5.5%.
  • Price action: HLT shares traded higher by 0.36% at $144.95 on the last check Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!