Subscribe Login
Hotel

Hilton Raises 2022 Profit Forecast On Strong Travel Demand

By Dave Simpson

Hotel operator Hilton Worldwide Holdings Inc HLT.N on Wednesday 27 July raised its full-year profit forecast after reporting a better-than-expected quarterly profit on the back of a rebound in travel demand.

Details

The hotel industry has benefited from people spending on travel as well as hotel stays, though rising interest rates and tight financial conditions are stoking fears of a recession.

However, credit card and other data indicate that travel demand is likely to remain robust.

Get a FREE Digital Subscription!

Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy

Shares of Hilton, which owns brands including the Waldorf Astoria Hotels & Resorts, were up 4.9% at $126.1.

The hotel operator said it expects net income of $1.15 billion to $1.22 billion this year, compared to its previous guidance of $1 billion to $1.07 billion.

The Virginia-based company expects full-year capital return between $1.5 billion and $1.9 billion, compared to its prior guidance of $1.4 billion to $1.8 billion.

The company expects its full-year system-wide comparable RevPAR, or revenue per available room, to increase between 37% and 43% compared to a year earlier.

Hilton reported revenue of $2.24 billion for the second quarter, compared with average analysts' expectations of $2.08 billion, according to Refinitiv data.

Earning Per Share On An Adjusted Basis

On an adjusted basis, the company earned $1.29 per share, better than the average analyst expectation of $1.04.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription
Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription