Hilton Worldwide Holdings has reported net income attributable to stockholders of $411m for the second quarter (Q2) of 2023, an increase of almost 12% compared with $368m a year ago.
For the quarter that ended 30 June 2023, the company’s total revenue grew by 19% to $2.66bn from $2.24bn a year earlier.
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Its total expenses were $1.98bn during the quarter, up 21% from $1.64bn in the second quarter of 2022.
The hospitality giant’s adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the quarter was $811m versus $679m a year earlier.
The company also noted that the system-wide comparable revenue per available room (RevPAR) climbed to $122.02, representing an increase of 12.1% year-on-year. It was driven by an increase in occupancy and average daily rate.
During the quarter, the company opened 92 new hotels, which added 14,000 rooms to its system, which resulted in net growth of 11,200 rooms.
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By GlobalDataHilton said it approved more than 36,000 rooms for development during the quarter, which represents a 7% growth from the year-ago quarter.
Hilton president and CEO Christopher Nassetta said: “System-wide comparable RevPAR continued to expand throughout the quarter, experiencing growth across all of our customer segments and regions, driven by a strong preference for our brands.
“Our top-line performance yielded meaningful bottom-line results, as we exceeded the high end of our guidance for adjusted EBITDA and diluted EPS, adjusted for special items.
“We continue to drive the long-term growth of our global network through the launch of strategic, new brands and have already added over 60,000 rooms to our development pipeline during 2023.”
