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Hilton Reports Third Quarter Results

Hilton Reports Third Quarter 2019 Results. (Graphic: Hilton)

MCLEAN, Va.--(BUSINESS WIRE)--

Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (HLT) today reported its third quarter 2019 results. Highlights include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191023005152/en/

  • Diluted EPS was $1.00 for the third quarter, an 85 percent increase from the same period in 2018, and diluted EPS, adjusted for special items, was $1.05, a 13 percent increase from the same period in 2018
  • Net income for the third quarter was $290 million, a 77 percent increase from the same period in 2018
  • Adjusted EBITDA for the third quarter was $605 million, a 9 percent increase from the same period in 2018
  • System-wide comparable RevPAR increased 0.4 percent on a currency neutral basis for the third quarter from the same period in 2018
  • Approved 25,200 new rooms for development during the third quarter, growing Hilton's development pipeline to 379,000 rooms as of September 30, 2019
  • Opened 17,400 rooms in the third quarter, contributing to 15,600 net additional rooms, on track to deliver approximately 6.5 percent net unit growth for the full year
  • Repurchased 4.5 million shares of Hilton common stock during the third quarter, bringing total capital return, including dividends, to approximately $465 million for the quarter and $1.2 billion year to date through September
  • Full year 2019 system-wide comparable RevPAR is expected to increase approximately 1.0 percent on a currency neutral basis compared to 2018; full year net income is projected to be between $923 million and $937 million; full year Adjusted EBITDA is projected to be between $2,285 million and $2,305 million
  • Full year 2019 capital return is projected to be between $1.6 billion and $1.8 billion
  • For full year 2020, system-wide comparable RevPAR is expected to be flat to 1.0 percent growth on a currency neutral basis compared to 2019; net unit growth is expected to be 6.0 percent to 7.0 percent

Overview

Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "Despite the overall slowing macro environment, we are pleased to deliver strong bottom-line results for the third quarter. Adjusted EBITDA was towards the high end of guidance and diluted EPS, adjusted for special items, exceeded our expectations, driven by strong net unit growth. Additionally, we continue to achieve market share gains across all brands and regions year to date."

For the three months ended September 30, 2019, system-wide comparable RevPAR grew 0.4 percent driven by increased occupancy. For the nine months ended September 30, 2019, system-wide comparable RevPAR grew 1.2 percent driven by increases in both ADR and occupancy. Management and franchise fee revenues increased 6 percent during the three months ended September 30, 2019 due to RevPAR growth of 0.3 percent at comparable managed and franchised hotels. During the nine months ended September 30, 2019, management and franchise fee revenues increased 8 percent as a result of RevPAR growth at comparable managed and franchised hotels of 1.2 percent. Additionally, management and franchise fee revenues increased due to increased licensing and other fees and the addition of new properties to Hilton's portfolio.

For the three months ended September 30, 2019, diluted EPS was $1.00 and diluted EPS, adjusted for special items, was $1.05 compared to $0.54 and $0.93, respectively, for the three months ended September 30, 2018. Net income and Adjusted EBITDA were $290 million and $605 million, respectively, for the three months ended September 30, 2019, compared to $164 million and $557 million, respectively, for the three months ended September 30, 2018. During the three months ended September 30, 2019, the Company completed the sale of the Hilton Odawara Resort & Spa and subsequently entered into a 30-year management contract with the purchaser of the hotel. As a result of the sale, the Company recognized a pre-tax gain of $81 million.

For the nine months ended September 30, 2019, diluted EPS was $2.42 and diluted EPS, adjusted for special items, was $2.90 compared to $1.76 and $2.48, respectively, for the nine months ended September 30, 2018. Net income and Adjusted EBITDA were $710 million and $1,722 million, respectively, for the nine months ended September 30, 2019, compared to $544 million and $1,557 million, respectively, for the nine months ended September 30, 2018.

Development

In the third quarter of 2019, Hilton opened 118 new hotels totaling approximately 17,400 rooms and achieved net unit growth of 15,600 rooms, contributing to 7 percent net unit growth from September 30, 2018.

As of September 30, 2019, Hilton's development pipeline totaled more than 2,530 hotels consisting of nearly 379,000 rooms throughout 111 countries and territories, including 35 countries and territories where Hilton does not currently have any open hotels. Additionally, of the rooms in the development pipeline, 205,000 rooms were located outside the U.S., and 198,000 rooms, or more than half, were under construction.

Hilton remains on track to grow its luxury portfolio by 17 percent in 2019, with the re-branding of the Conrad New York Midtown and openings in the third quarter of the Conrad Tianjin, the Conrad Shenyang, the Waldorf Astoria Los Cabos Pedregal and the Biltmore Mayfair, LXR.

Balance Sheet and Liquidity

As of September 30, 2019, Hilton had $7.9 billion of long-term debt outstanding, excluding deferred financing costs and discount, with a weighted average interest rate of 4.47 percent. Excluding finance lease liabilities and other debt of Hilton's consolidated variable interest entities, Hilton had $7.6 billion of long-term debt outstanding with a weighted average interest rate of 4.42 percent.

Total cash and cash equivalents were $809 million as of September 30, 2019, including $90 million of restricted cash and cash equivalents. No amounts were outstanding under the $1.75 billion senior secured revolving credit facility as of September 30, 2019.

During the third quarter of 2019, Hilton repurchased 4.5 million shares of its common stock at a cost of approximately $422 million and an average price per share of $94.72. During the nine months ended September 30, 2019, Hilton repurchased 12.5 million shares of its common stock at a cost of approximately $1.1 billion and an average price per share of $88.11. Since the inception of Hilton's stock repurchase program in March 2017, Hilton has repurchased approximately 50.7 million shares of its common stock for approximately $3.8 billion at an average price per share of $75.28. The amount remaining under Hilton's current stock repurchase program is approximately $853 million.

In September 2019, Hilton paid a quarterly cash dividend of $0.15 per share on shares of its common stock, for a total of $43 million, bringing year to date dividends to $130 million. In October 2019, Hilton's board of directors authorized a regular quarterly cash dividend of $0.15 per share of common stock to be paid on or before December 27, 2019 to holders of record of its common stock as of the close of business on November 8, 2019.

Adoption of New Accounting Standard

On January 1, 2019, the Company adopted Accounting Standards Update ("ASU") No. 2016-02 Leases (Topic 842) ("ASU 2016-02"). As permitted, the Company has applied this ASU at the adoption date; therefore, the presentation of financial information for all periods prior to January 1, 2019 remains unchanged and in accordance with Leases (Topic 840). For additional information on the effect of this ASU, refer to Hilton's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2019, which is expected to be filed on or about the date of this press release.

Outlook

Share-based metrics in Hilton's outlook include actual share repurchases to date, but do not include the effect of potential share repurchases hereafter.

Full Year 2019

  • System-wide comparable RevPAR is expected to increase approximately 1.0 percent on a currency neutral basis compared to 2018.
  • Diluted EPS, before special items, is projected to be between $3.16 and $3.21.
  • Diluted EPS, adjusted for special items, is projected to be between $3.81 and $3.86.
  • Net income is projected to be between $923 million and $937 million.
  • Adjusted EBITDA is projected to be between $2,285 million and $2,305 million.
  • Management and franchise fee revenue is projected to increase between 7 percent and 8 percent compared to 2018.
  • Contract acquisition costs and capital expenditures, excluding amounts indirectly reimbursed by hotel owners, are expected to be between $175 million and $200 million.
  • Capital return is projected to be between $1.6 billion and $1.8 billion.
  • General and administrative expenses are projected to be between $430 million and $440 million.
  • Net unit growth is expected to be approximately 6.5 percent.

Fourth Quarter 2019

  • System-wide comparable RevPAR is expected to be roughly flat on a currency neutral basis compared to the fourth quarter of 2018.
  • Diluted EPS, before special items, is projected to be between $0.74 and $0.79.
  • Diluted EPS, adjusted for special items, is projected to be between $0.91 and $0.96.
  • Net income is projected to be between $213 million and $227 million.
  • Adjusted EBITDA is projected to be between $563 million and $583 million.
  • Management and franchise fee revenue is projected to increase between 3 percent and 5 percent compared to the fourth quarter of 2018.

Conference Call

Hilton will host a conference call to discuss third quarter 2019 results on October 23, 2019 at 10:00 a.m. Eastern Time. Participants may listen to the live webcast by logging on to the Hilton Investor Relations website at https://ir.hilton.com/events-and-presentations. A replay and transcript of the webcast will be available within 24 hours after the live event at https://ir.hilton.com/financial-reporting/quarterly-results/2019.

Alternatively, participants may listen to the live call by dialing 1-888-317-6003 in the United States ("U.S.") or 1-412-317-6061 internationally using the conference ID 3302196. Participants are encouraged to dial into the call or link to the webcast at least fifteen minutes prior to the scheduled start time. A telephone replay will be available for seven days following the call. To access the telephone replay, dial 1-877-344-7529 in the U.S. or 1-412-317-0088 internationally using the conference ID 10135197.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to the expectations regarding the performance of Hilton's business, financial results, liquidity and capital resources and other non-historical statements, including the statements in the "Outlook" section of this press release. In some cases, these forward-looking statements can be identified by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the hospitality industry, macroeconomic factors beyond Hilton's control, competition for hotel guests and management and franchise contracts, risks related to doing business with third-party hotel owners, performance of Hilton's information technology systems, growth of reservation channels outside of Hilton's system, risks of doing business outside of the U.S. and Hilton's indebtedness. Additional factors that could cause Hilton's results to differ materially from those described in the forward-looking statements can be found under the section entitled "Part I—Item 1A. Risk Factors" of Hilton's Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the Securities and Exchange Commission ("SEC"), as such factors may be updated from time to time in Hilton's periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton's filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Non-GAAP Financial Measures

The Company refers to certain financial measures that are not recognized under U.S. generally accepted accounting principles ("GAAP") in this press release, including: net income, adjusted for special items; diluted EPS, adjusted for special items; Adjusted EBITDA; Adjusted EBITDA margin; net debt; and net debt to Adjusted EBITDA ratio. See the schedules to this press release, including the "Definitions" section, for additional information and reconciliations of such non-GAAP financial measures.

About Hilton

Hilton (HLT) is a leading global hospitality company, with a portfolio of 17 world-class brands comprising nearly 6,000 properties with more than 954,000 rooms, in 117 countries and territories. Dedicated to fulfilling its mission to be the world's most hospitable company, Hilton earned a spot on the 2019 world's best workplaces list, and has welcomed more than 3 billion guests during its 100-year history. Through the award-winning guest loyalty program Hilton Honors, nearly 99 million members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy, plus enjoy instant benefits, including digital check-in with room selection, Digital Key and Connected Room. Visit newsroom.hilton.com for more information, and connect with Hilton on facebook.com/hiltonnewsroom, twitter.com/hiltonnewsroom, linkedin.com/company/hilton, instagram.com/hiltonnewsroom and youtube.com/hiltonnewsroom.

HILTON WORLDWIDE HOLDINGS INC.
EARNINGS RELEASE SCHEDULES
TABLE OF CONTENTS

Condensed Consolidated Statements of Operations

Comparable and Currency Neutral System-Wide Hotel Operating Statistics

Property Summary

Capital Expenditures and Contract Acquisition Costs

Non-GAAP Financial Measures Reconciliations

Definitions

         

HILTON WORLDWIDE HOLDINGS INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited, in millions, except per share data)

         

 

 

Three Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

 

 

2019

 

 

 

2018

 

 

 

2019

 

 

 

2018

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

Franchise and licensing fees

 

$

 

443

 

 

$

 

407

 

 

$

 

1,269

 

 

$

 

1,142

 

Base and other management fees

 

 

80

 

 

 

80

 

 

 

249

 

 

 

241

 

Incentive management fees

 

 

54

 

 

 

57

 

 

 

167

 

 

 

171

 

Owned and leased hotels

 

 

361

 

 

 

373

 

 

 

1,060

 

 

 

1,099

 

Other revenues

 

 

23

 

 

 

27

 

 

 

75

 

 

 

72

 

 

 

 

961

 

 

 

944

 

 

 

2,820

 

 

 

2,725

 

Other revenues from managed and franchised properties

 

 

1,434

 

 

 

1,309

 

 

 

4,263

 

 

 

3,893

 

Total revenues

 

 

2,395

 

 

 

2,253

 

 

 

7,083

 

 

 

6,618

 

 

 

 

 

 

 

 

 

 

 

 

 

Expenses

 

 

 

 

 

 

 

 

 

 

 

Owned and leased hotels

 

 

310

 

 

 

331

 

 

 

942

 

 

 

1,003

 

Depreciation and amortization

 

 

86

 

 

 

81

 

 

 

256

 

 

 

242

 

General and administrative

 

 

107

 

 

 

109

 

 

 

327

 

 

 

328

 

Other expenses

 

 

11

 

 

 

10

 

 

 

46

 

 

 

36

 

 

 

 

514

 

 

 

531

 

 

 

1,571

 

 

 

1,609

 

Other expenses from managed and franchised properties

 

 

1,443

 

 

 

1,337

 

 

 

4,284

 

 

 

3,939

 

Total expenses

 

 

1,957

 

 

 

1,868

 

 

 

5,855

 

 

 

5,548

 

 

 

 

 

 

 

 

 

 

 

 

 

Gain on sale of assets, net

 

 

81

 

 

 

 

 

81

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

 

 

519

 

 

 

385

 

 

 

1,309

 

 

 

1,070

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

 

(105

)

 

 

(99

)

 

 

(304

)

 

 

(277

)

Gain (loss) on foreign currency transactions

 

 

7

 

 

 

(6

)

 

 

4

 

 

 

(7

)

Other non-operating income (loss), net

 

 

 

 

13

 

 

 

(8

)

 

 

26

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

421

 

 

 

293

 

 

 

1,001

 

 

 

812

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax expense

 

 

(131

)

 

 

(129

)

 

 

(291

)

 

 

(268

)

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

290

 

 

 

164

 

 

 

710

 

 

 

544

 

Net income attributable to noncontrolling interests

 

 

(2

)

 

 

(2

)

 

 

(4

)

 

 

(4

)

Net income attributable to Hilton stockholders

 

$

 

288

 

 

$

 

162

 

 

$

 

706

 

 

$

 

540

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

285

 

 

 

297

 

 

 

289

 

 

 

305

 

Diluted

 

 

288

 

 

 

300

 

 

 

292

 

 

 

307

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

 

1.01

 

 

$

 

0.55

 

 

$

 

2.44

 

 

$

 

1.77

 

Diluted

 

$

 

1.00

 

 

$

 

0.54

 

 

$

 

2.42

 

 

$

 

1.76

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share

 

$

 

0.15

 

 

$

 

0.15

 

 

$

 

0.45

 

 

$

 

0.45

 

     

HILTON WORLDWIDE HOLDINGS INC.

COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS

BY REGION

(unaudited)

     

 

 

Three Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

U.S.

 

79.4

%

 

0.3

 

%

pts.

 

$

149.12

 

 

%

 

$

118.37

 

0.4

 

%

Americas (excluding U.S.)

 

74.8

 

 

(0.1

)

 

 

 

 

122.65

 

(0.2

)

 

 

 

91.77

 

(0.4

)

 

Europe

 

84.0

 

 

1.6

 

 

 

 

 

143.12

 

0.5

 

 

 

 

120.27

 

2.4

 

 

Middle East & Africa

 

71.6

 

 

1.5

 

 

 

 

 

141.95

 

(2.3

)

 

 

 

101.57

 

(0.2

)

 

Asia Pacific

 

75.4

 

 

(0.2

)

 

 

 

 

120.55

 

(2.4

)

 

 

 

90.92

 

(2.7

)

 

System-wide

 

79.1

 

 

0.4

 

 

 

 

 

145.11

 

(0.1

)

 

 

 

114.78

 

0.4

 

 

     

 

 

Nine Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

U.S.

 

77.6

%

 

0.4

 

%

pts.

 

$

149.84

 

0.6

 

%

 

$

116.27

 

1.1

 

%

Americas (excluding U.S.)

 

71.3

 

 

0.6

 

 

 

 

 

123.12

 

1.4

 

 

 

 

87.74

 

2.3

 

 

Europe

 

78.0

 

 

1.2

 

 

 

 

 

140.42

 

2.0

 

 

 

 

109.50

 

3.5

 

 

Middle East & Africa

 

72.5

 

 

2.2

 

 

 

 

 

145.34

 

(5.0

)

 

 

 

105.38

 

(2.0

)

 

Asia Pacific

 

72.2

 

 

0.8

 

 

 

 

 

123.85

 

(1.0

)

 

 

 

89.47

 

0.1

 

 

System-wide

 

76.8

 

 

0.6

 

 

 

 

 

145.81

 

0.5

 

 

 

 

111.98

 

1.2

 

 

   

HILTON WORLDWIDE HOLDINGS INC.

COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS

BY BRAND

(unaudited)

   

 

 

Three Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

Waldorf Astoria Hotels & Resorts

 

67.8

%

 

0.1

 

%

pts.

 

$

353.40

 

3.7

 

%

 

$

239.67

 

3.9

 

%

Conrad Hotels & Resorts

 

76.8

 

 

0.9

 

 

 

 

 

259.13

 

(2.5

)

 

 

 

198.89

 

(1.4

)

 

Hilton Hotels & Resorts

 

79.4

 

 

0.2

 

 

 

 

 

170.83

 

0.5

 

 

 

 

135.70

 

0.8

 

 

Curio Collection by Hilton

 

72.7

 

 

(1.9

)

 

 

 

 

198.14

 

0.9

 

 

 

 

144.00

 

(1.7

)

 

DoubleTree by Hilton

 

78.0

 

 

0.3

 

 

 

 

 

130.69

 

(0.7

)

 

 

 

101.90

 

(0.4

)

 

Embassy Suites by Hilton

 

80.4

 

 

0.4

 

 

 

 

 

164.00

 

0.3

 

 

 

 

131.83

 

0.9

 

 

Hilton Garden Inn

 

79.3

 

 

0.4

 

 

 

 

 

132.94

 

(0.7

)

 

 

 

105.37

 

(0.2

)

 

Hampton by Hilton

 

78.4

 

 

0.4

 

 

 

 

 

125.00

 

(0.3

)

 

 

 

97.98

 

0.2

 

 

Tru by Hilton

 

77.8

 

 

4.7

 

 

 

 

 

115.33

 

1.4

 

 

 

 

89.70

 

8.0

 

 

Homewood Suites by Hilton

 

83.9

 

 

0.4

 

 

 

 

 

143.00

 

(0.2

)

 

 

 

120.04

 

0.3

 

 

Home2 Suites by Hilton

 

82.0

 

 

2.4

 

 

 

 

 

118.99

 

0.3

 

 

 

 

97.53

 

3.3

 

 

System-wide

 

79.1

 

 

0.4

 

 

 

 

 

145.11

 

(0.1

)

 

 

 

114.78

 

0.4

 

 

   

 

 

Nine Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

Waldorf Astoria Hotels & Resorts

 

71.2

%

 

0.9

 

%

pts.

 

$

375.42

 

2.3

 

%

 

$

267.26

 

3.5

 

%

Conrad Hotels & Resorts

 

75.6

 

 

3.1

 

 

 

 

 

268.29

 

(0.2

)

 

 

 

202.90

 

4.1

 

 

Hilton Hotels & Resorts

 

77.2

 

 

0.4

 

 

 

 

 

172.37

 

1.1

 

 

 

 

133.07

 

1.6

 

 

Curio Collection by Hilton

 

72.7

 

 

(0.9

)

 

 

 

 

210.54

 

2.6

 

 

 

 

153.12

 

1.3

 

 

DoubleTree by Hilton

 

75.4

 

 

0.3

 

 

 

 

 

132.15

 

(0.2

)

 

 

 

99.58

 

0.2

 

 

Embassy Suites by Hilton

 

79.7

 

 

0.7

 

 

 

 

 

165.56

 

0.8

 

 

 

 

131.93

 

1.7

 

 

Hilton Garden Inn

 

77.0

 

 

0.6

 

 

 

 

 

132.71

 

0.1

 

 

 

 

102.21

 

0.9

 

 

Hampton by Hilton

 

75.4

 

 

0.4

 

 

 

 

 

123.29

 

0.2

 

 

 

 

92.91

 

0.8

 

 

Tru by Hilton

 

71.5

 

 

3.4

 

 

 

 

 

108.61

 

3.0

 

 

 

 

77.63

 

8.2

 

 

Homewood Suites by Hilton

 

81.8

 

 

0.4

 

 

 

 

 

142.07

 

0.3

 

 

 

 

116.18

 

0.9

 

 

Home2 Suites by Hilton

 

80.3

 

 

3.1

 

 

 

 

 

118.30

 

0.7

 

 

 

 

95.04

 

4.8

 

 

System-wide

 

76.8

 

 

0.6

 

 

 

 

 

145.81

 

0.5

 

 

 

 

111.98

 

1.2

 

 

   

HILTON WORLDWIDE HOLDINGS INC.

COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS

BY SEGMENT

(unaudited)

   

 

 

Three Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

Management and franchise

 

79.0

%

 

0.4

%

pts.

 

$

144.08

 

(0.2

)

%

 

$

113.82

 

0.3

%

Ownership(1)

 

83.7

 

 

1.1

 

 

 

 

189.00

 

1.3

 

 

 

 

158.17

 

2.6

 

System-wide

 

79.1

 

 

0.4

 

 

 

 

145.11

 

(0.1

)

 

 

 

114.78

 

0.4

 

 

 

 

Nine Months Ended September 30,

 

 

Occupancy

 

ADR

 

RevPAR

 

 

2019

 

vs. 2018

 

2019

 

vs. 2018

 

2019

 

vs. 2018

Management and franchise

 

76.8

%

 

0.6

%

pts.

 

$

144.83

 

0.4

 

%

 

$

111.17

 

1.2

%

Ownership(1)

 

78.6

 

 

0.4

 

 

 

 

188.98

 

3.3

 

 

 

 

148.52

 

3.8

 

System-wide

 

76.8

 

 

0.6

 

 

 

 

145.81

 

0.5

 

 

 

 

111.98

 

1.2

 

____________

(1)

Includes owned and leased hotels, as well as hotels owned or leased by entities in which Hilton owns a noncontrolling financial interest.

 

HILTON WORLDWIDE HOLDINGS INC.

PROPERTY SUMMARY

As of September 30, 2019

 

 

Owned / Leased(1)

 

Managed

 

Franchised

 

Total

 

Properties

 

Rooms

 

Properties

 

Rooms

 

Properties

 

Rooms

 

Properties

 

Rooms

Waldorf Astoria Hotels & Resorts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

15

 

6,164

 

 

 

15

 

6,164

Americas (excluding U.S.)

 

 

2

 

261

 

 

 

2

 

261

Europe

2

 

463

 

4

 

898

 

 

 

6

 

1,361

Middle East & Africa

 

 

5

 

1,224

 

 

 

5

 

1,224

Asia Pacific

 

 

5

 

1,017

 

 

 

5

 

1,017

LXR Hotels & Resorts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Europe

 

 

1

 

307

 

 

 

1

 

307

Middle East & Africa

 

 

 

 

1

 

234

 

1

 

234

Conrad Hotels & Resorts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

5

 

1,649

 

1

 

228

 

6

 

1,877

Americas (excluding U.S.)

 

 

2

 

402

 

 

 

2

 

402

Europe

 

 

4

 

1,155

 

 

 

4

 

1,155

Middle East & Africa

1

 

614

 

2

 

993

 

 

 

3

 

1,607

Asia Pacific

1

 

164

 

20

 

6,050

 

1

 

654

 

22

 

6,868

Canopy by Hilton

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

 

 

7

 

1,181

 

7

 

1,181

Europe

 

 

 

 

2

 

263

 

2

 

263

Asia Pacific

 

 

1

 

150

 

 

 

1

 

150

Hilton Hotels & Resorts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

65

 

47,915

 

177

 

54,433

 

242

 

102,348

Americas (excluding U.S.)

1

 

405

 

26

 

9,455

 

21

 

7,096

 

48

 

16,956

Europe

50

 

13,843

 

46

 

14,792

 

39

 

10,791

 

135

 

39,426

Middle East & Africa

5

 

1,998

 

43

 

13,300

 

3

 

1,609

 

51

 

16,907

Asia Pacific

5

 

2,994

 

97

 

35,199

 

7

 

2,599

 

109

 

40,792

Curio Collection by Hilton

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

5

 

2,335

 

39

 

8,022

 

44

 

10,357

Americas (excluding U.S.)

 

 

1

 

59

 

8

 

1,110

 

9

 

1,169

Europe

 

 

3

 

270

 

14

 

1,617

 

17

 

1,887

Middle East & Africa

 

 

2

 

255

 

1

 

356

 

3

 

611

Asia Pacific

 

 

3

 

663

 

2

 

248

 

5

 

911

DoubleTree by Hilton

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S.

 

 

33

 

11,215

...