Hilton Worldwide Clocks Second Consecutive Quarter For RevPAR Exceeding Pre-Pandemic Levels

  • Hilton Worldwide Holdings Inc HLT reported Q4 FY22 sales of $2.44 billion, up 33.1% Y/Y, beating the consensus of $2.38 billion.
  • The company posted an adjusted EPS of $1.59, up from $0.72 a year ago, beating the consensus of $1.22. 
  • Christopher Nassetta, President & CEO, said, "Our fourth quarter and full-year results surpassed our expectations, with fourth quarter system-wide RevPAR meaningfully exceeding the same period in 2019 driven by growth across all segments. This marked the second consecutive quarter that RevPAR exceeded pre-pandemic levels."
  • For Q4, system-wide comparable RevPAR increased 24.8%, compared to the same periods in 2021, due to an increase in occupancy and average daily rate.
  • In Q4, Hilton opened 108 new hotels contributing 17,700 additional rooms to Hilton's system, and achieved net unit growth of 15,100 rooms.
  • Guidance: Hilton expects FY23 adjusted EPS of $5.42-$5.68, compared to the consensus of $5.60. For Q1, the company forecasts adjusted EPS of $1.08-$1.14 versus a consensus of $1.14.
  • Adjusted EBITDA expected between $590-$610 million for Q1 and $2.8-$2.9 billion for FY23.
  • On a currency-neutral basis, system-wide comparable RevPAR is expected to increase between 4%-8% for FY23 and 23%-27% for Q1.
  • Price Action: HLT shares are up 1.03% at $148.80 during the premarket session on the last check Thursday.
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