Hilton approves 36,000 new rooms for development in Q2

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Hilton Worldwide Holdings (Hilton) approved 36,000 new rooms for development during the second quarter, bringing Hilton's development pipeline to 440,900 rooms as of June 30, 2023, representing a growth of 7 percent from June 30, 2022.

This was revealed in the second quarter 2023 results of Hilton, which was published yesterday (July 26).

The group added 14,000 rooms to Hilton's system in the second quarter, resulting in 11,200 net additional rooms in the system during the period.

Highlights of the results include:

* Net income was $413 million for the second quarter, exceeding the high end of guidance;

* Adjusted EBITDA was $811 million for the second quarter, exceeding the high end of guidance;

* Diluted EPS was $1.55 for the second quarter, and diluted EPS, adjusted for special items, was $1.63, both exceeding the high end of guidance;

* System-wide comparable RevPAR increased 12.1 percent, on a currency neutral basis, for the second quarter compared to the same period in 2022;

* System-wide comparable RevPAR increased 9.3 percent, on a currency neutral basis, for the second quarter compared to the same period in 2019.

Full year 2023 system-wide RevPAR is expected to increase between 10 percent and 12 percent on a comparable and currency neutral basis compared to 2022, it said.

The full year net income is projected to be between $1,387 million and $1,422 million and full year adjusted EBITDA is projected to be between $2,975 million and $3,025 million.