Hilton Worldwide Holdings has reported a net income of $150m in the fourth quarter (Q4) of 2023, marking a decrease of 54.95% from $333m in the same quarter of 2022.  

For the latest quarter ending on 31 December 2023, the net income attributable to Hilton stockholders was $147m, down from $328m in the same period of 2022. 

Total revenue increased by 6.75% to $2.60bn from $2.44bn in the fourth quarter of 2022.  

Hilton’s total expenses also rose to $2.20bn in Q4 2023 from $1.94bn in Q4 2022. 

Basic earnings per share (EPS) for Q4 2023 stood at $0.58, a drop from $1.22 in the corresponding period of the previous year while diluted EPS decreased to $0.57 from $1.21 in Q4 2022. 

Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter were $803m, up from $740m in the same period a year earlier.  

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By GlobalData

System-wide comparable revenue per available room (RevPAR) saw a 5.7% increase on a currency-neutral basis, compared with Q4 2022. 

The increase in RevPAR was attributed to higher occupancy and average daily rate (ADR). Management and franchise fee revenues saw a 12.2% increase in Q4 2023 from the same period in the previous year. 

Hilton opened 24,000 rooms during the quarter and achieved a net unit growth of 22,300 rooms.  

The company also added 33,800 rooms to its development pipeline in Q4, contributing to a total of 130,200 rooms for the full year, a 45% increase from the prior year. 

Hilton recorded a net income of $1.15bn for the full year 2023, down from $1.25bn in 2022. 

Total revenue for 2023 stood at $10.23bn compared with $8.77bn the previous year while adjusted EBITDA in 2023 was $3.08bn as against $2.59bn in 2022. 

Basic EPS was $4.36 in 2023 compared with $4.56 in 2022 and diluted EPS was $4.33 compared with $4.53 the previous year. 

Hilton president and CEO Christopher J Nassetta said: “We delivered another year of strong top-line and bottom-line results and continued to deliver on our robust development story. Positive momentum in openings continued throughout the year, with more openings in Q4 than any other quarter in the company’s history.  

“We also achieved record signings for the year, meaningfully ahead of pre-pandemic levels. We expect this momentum to continue into 2024 and net unit growth to accelerate to the high end of our guidance range of 5.5% to 6.0%, with the opportunity for further upside of 25 to 50 basis points from our exclusive partnership with Small Luxury Hotels of the World.” 

For the full year 2024, Hilton anticipates net income to range between $1.69bn and $1.72bn, with adjusted EBITDA expected to be between $3.33bn and $3.38bn.