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Dec 31, 2023
Hilton Q4 2023 Earnings Report
Hilton reported strong Q4 and full year results driven by increased RevPAR and strategic development initiatives.
Key Takeaways
Hilton's Q4 2023 results showed a diluted EPS of $0.57, adjusted EPS of $1.68, and a net income of $150 million. System-wide comparable RevPAR increased by 5.7% compared to 2022. The company added a record 24,000 rooms to its system and repurchased 4.6 million shares of its common stock.
Diluted EPS was $0.57 for the fourth quarter, and adjusted diluted EPS was $1.68.
System-wide comparable RevPAR increased by 5.7% compared to the same period in 2022.
Hilton added a record 24,000 rooms to its system in the fourth quarter.
The company repurchased 4.6 million shares of Hilton common stock during the fourth quarter.
Forward Guidance
Hilton projects a positive outlook for 2024, anticipating continued growth in RevPAR and adjusted EBITDA.
Positive Outlook
- System-wide RevPAR is projected to increase between 2.0% and 4.0% compared to 2023.
- Net income is projected to be between $1,694 million and $1,729 million.
- Adjusted EBITDA is projected to be between $3,330 million and $3,380 million.
- Capital return is projected to be approximately $3.0 billion.
- Net unit growth is projected to be between 5.5% and 6.0%.
Challenges Ahead
- Outlook does not include the effect of the partnership with Small Luxury Hotels of the World due to timing.
- Share-based metrics do not include the effect of potential share repurchases after Q4.
- General and administrative expenses are projected to be between $415 million and $430 million.
- Contract acquisition costs and capital expenditures are projected to be between $250 million and $300 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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