MCLEAN, VA—Hilton Worldwide Holdings Inc. reported its second quarter 2018 results.
The brand saw system-wide comparable RevPAR increase 4% percent on a currency neutral basis for the second quarter from the same period in 2017, driven by U.S. RevPAR growth of 3.5% and international RevPAR growth of 5.9%.
Hilton approved 28,800 new rooms for development during the second quarter, growing the brand’s development pipeline to 362,000 rooms as of June 30, representing 9% growth from June 30, 2017. In addition, 17,100 rooms were opened in the second quarter and achieved net unit growth of 15,800 rooms, which was an 18% increase from the same period in 2017.
In addition, 18.5 million shares of Hilton common stock were repurchased for an aggregate cost of $1.3 billion during the second quarter, including shares repurchased from HNA and Blackstone in connection with their full divestitures of their investments in Hilton. The brand returned nearly $1.6 billion to shareholders through July, in the form of share repurchases and dividends.
Other earnings highlights include:
- Diluted EPS was $0.71 for the second quarter, a 54% increase from the same period in 2017, and diluted EPS, adjusted for special items, was $0.70, a 37% increase from the same period in 2017.
- Net income for the second quarter was $217 million, an increase of 44% from the same period in 2017.
- Adjusted EBITDA for the second quarter was $555 million, an increase of 10% from the same period in 2017, exceeding the high end of guidance.