MCLEAN, Virginia—Hilton Worldwide Holdings Inc. reported its fourth quarter and full yr 2024 outcomes. Highlights embrace:

• Diluted EPS was $2.06 for the fourth quarter and $6.14 for the complete yr, exceeding the excessive finish of steering
• Diluted EPS, adjusted for particular objects, was $1.76 for the fourth quarter and $7.12 for the complete yr, exceeding the excessive finish of steering
• Internet earnings was $505 million for the fourth quarter and $1,539 million for the complete yr, exceeding the excessive finish of steering
• Adjusted EBITDA was $858 million for the fourth quarter and $3,429 million for the complete yr, exceeding the excessive finish of steering
• System-wide comparable RevPAR elevated 3.5 % and a pair of.7 %, on a forex impartial foundation, for the fourth quarter and full yr, respectively, in comparison with the identical intervals in 2023, exceeding the excessive finish of steering
• Accredited 34,200 new rooms for improvement throughout the fourth quarter, bringing its improvement pipeline to 498,600 rooms as of Dec. 31, 2024, representing progress of 8 % from Dec. 31, 2023
• Added 22,600 rooms to our system within the fourth quarter, leading to 98,400 room openings for the complete yr, contributing to web unit progress of seven.3 % from Dec. 31, 2023
• Repurchased 3.1 million shares of Hilton frequent inventory throughout the fourth quarter; bringing whole capital return, together with dividends, to $781 million for the quarter and $3.0 billion for the complete yr
• Full yr 2025 system-wide RevPAR is projected to extend between 2.0 % and three.0 % on a comparable and forex impartial foundation in comparison with 2024; full yr web earnings is projected to be between $1,829 million and $1,858 million; full yr Adjusted EBITDA is projected to be between $3,700 million and $3,740 million
• Full yr 2025 capital return is projected to be roughly $3.3 billion
• Internet unit progress for 2025 is anticipated to be between 6.0 % and seven.0 %

Overview

Christopher J. Nassetta, president and CEO of Hilton, stated, “We’re happy to report a robust fourth quarter, with each prime and backside line outcomes exceeding our expectations. All segments drove RevPAR outperformance, with robust traits in leisure occupancy, in addition to continued progress in enterprise transient and group outcomes, and we count on favorable traits to proceed into 2025. We additionally delivered the very best variety of approvals, development begins and openings in our historical past in 2024, serving to us obtain web unit progress of seven.3 %. With a improvement pipeline of practically half one million rooms, we’re assured that we’re properly positioned to ship web unit progress between 6.0 % and seven.0 % in 2025.”

For the three months ended Dec. 31, 2024, system-wide comparable RevPAR elevated 3.5 % in comparison with the identical interval in 2023 because of will increase in each occupancy and ADR. Administration and franchise price revenues elevated 4.8 % in comparison with the identical interval in 2023.

For the yr ended Dec. 31, 2024, system-wide comparable RevPAR elevated 2.7 % in comparison with the identical interval in 2023 because of will increase in each occupancy and ADR. Administration and franchise price revenues elevated 9.1 % in comparison with the identical interval in 2023.

For the three months ended Dec. 31, 2024, diluted EPS was $2.06 and diluted EPS, adjusted for particular objects, was $1.76, in comparison with $0.57 and $1.68, respectively, for the three months ended Dec. 31, 2023. Internet earnings and Adjusted EBITDA had been $505 million and $858 million, respectively, for the three months ended Dec. 31, 2024, in comparison with $150 million and $803 million, respectively, for the three months ended Dec. 31, 2023.

For the yr ended Dec. 31, 2024, diluted EPS was $6.14 and diluted EPS, adjusted for particular objects, was $7.12, in comparison with $4.33 and $6.21, respectively, for the yr ended December 31, 2023. Internet earnings and Adjusted EBITDA had been $1,539 million and $3,429 million, respectively, for the yr ended December 31, 2024, in comparison with $1,151 million and $3,089 million, respectively, for the yr ended Dec. 31, 2023.

Growth

Within the fourth quarter of 2024, Hilton opened 171 resorts, totaling 22,600 rooms, leading to 17,200 web room additions. Through the quarter, the corporate continued to increase its portfolio within the Asia Pacific market, surpassing 1,000 resorts within the area. It opened its first resorts in Bonaire and Paraguay and now have properties in 140 international locations and territories. The corporate additionally added a number of luxurious resorts to its pipeline within the Center East and Africa area throughout the quarter. With greater than 500 luxurious resorts worldwide, Hilton appears to be like to increase its portfolio in 2025 with the reopening of the Waldorf Astoria New York, together with the openings of Waldorf Astoria Costa Rica Punta Cacique, Waldorf Astoria Shanghai Qiantan, Waldorf Astoria Osaka, Waldorf Astoria Morocco Rabat Sale, Conrad Hamburg and Conrad Athens.

Hilton added 34,200 rooms to the event pipeline throughout the fourth quarter, and, as of Dec. 31, 2024, its improvement pipeline totaled 3,578 resorts representing 498,600 rooms all through 118 international locations and territories, together with 25 international locations and territories the place it had no current resorts. Moreover, of the rooms within the improvement pipeline, practically half had been beneath development and greater than half had been situated exterior of america.

Stability Sheet and Liquidity

As of Dec. 31, 2024, Hilton had $11.2 billion of debt excellent, excluding the deduction for deferred financing prices and reductions, with a weighted common rate of interest of 4.77 %. Excluding all finance lease liabilities, Hilton had $11.1 billion of debt excellent with a weighted common rate of interest of 4.76 % and no scheduled maturities till April 2027, aside from $500 million of excellent Senior Notes due Could 2025. The corporate believes that it has adequate sources of liquidity and entry to debt financing to handle the Senior Notes due Could 2025 at or previous to their maturity date in addition to all indebtedness that turns into due thereafter. As of Dec. 31, 2024, no quantities had been excellent beneath the $2.0 billion senior secured revolving credit score facility, which had an obtainable borrowing capability of $1,910 million after contemplating $90 million of excellent letters of credit score. Whole money and money equivalents had been $1,376 million as of Dec. 31, 2024, together with $75 million of restricted money and money equivalents.

In December 2024, Hilton paid a quarterly money dividend of $0.15 per share of frequent inventory, for a complete of $37 million, bringing whole dividend funds for the yr to $150 million. In February 2025, its board of administrators licensed a daily quarterly money dividend of $0.15 per share of frequent inventory to be paid on March 28, 2025 to holders of document of frequent inventory as of the shut of enterprise on Feb. 21, 2025.

Through the three months ended Dec. 31, 2024, the corporate repurchased 3.1 million shares of Hilton frequent inventory at a mean value per share of $244.74, for a complete of $744 million. For the yr ended Dec. 31, 2024, it repurchased 13.3 million shares of Hilton frequent inventory at a mean value per share of $215.09, returning $3.0 billion of capital to shareholders, together with dividends. In November 2024, the board of administrators licensed an extra $3.5 billion for share repurchases beneath the inventory repurchase program. The quantity licensed remaining beneath our inventory repurchase program as of Dec. 31, 2024 was roughly $4.4 billion. The variety of shares excellent as of January 31, 2025 was 240.6 million.

Outlook

Share-based metrics in Hilton’s outlook embrace precise share repurchases via Dec. 31, 2024, however don’t embrace the impact of potential share repurchases thereafter.

Full Yr 2025

• System-wide comparable RevPAR, on a forex impartial foundation, is projected to extend between 2.0 % and three.0 % in comparison with 2024.
• Diluted EPS is projected to be between $7.45 and $7.56.
• Diluted EPS, adjusted for particular objects, is projected to be between $7.71 and $7.82.
• Internet earnings is projected to be between $1,829 million and $1,858 million.
• Adjusted EBITDA is projected to be between $3,700 million and $3,740 million.
• Contract acquisition prices and capital expenditures, excluding quantities reimbursed by third events, are projected to be between $250 million and $300 million.
• Capital return is projected to be roughly $3.3 billion.
• Common and administrative bills are projected to be between $420 million and $430 million.
• Internet unit progress is projected to be between 6.0 % and seven.0 %.

First Quarter 2025

• System-wide comparable RevPAR, on a forex impartial foundation, is projected to extend between 2.5 % and three.5 % in comparison with the primary quarter of 2024.
• Diluted EPS is projected to be between $1.52 and $1.58.
• Diluted EPS, adjusted for particular objects, is projected to be between $1.57 and $1.63.
• Internet earnings is projected to be between $373 million and $388 million.
• Adjusted EBITDA is projected to be between $770 million and $790 million.