- Hilton Worldwide (NYSE:NYSE:HLT) reports system-wide RevPAR rose 2.9% in Q2.
- U.S. comparable RevPAR grew 2.9%.
- Management and franchise fees advanced 9% to $471M.
- Timeshare revenue up 5.3% to $336M.
- System-wide occupancy rate +10 bps to 78.9%.
- Adjusted EBITDA expanded 4% to $806M.
- Operating margin rate improved 350 bps to 18.1%.
- The company filed registration statements for planned spin-offs of Park Hotels & Resorts and Hilton Grand Vacations.
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Q3 Guidance: System-wide RevPAR: +2% to +4%; Adjusted EBITDA: $760M to $780M; Management and franchise fees: ~+7% to +9%; Net income: $223M to $235M; Adjusted EPS: $0.21 to $0.23.
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FY2016 Guidance: System-wide RevPAR: +2% to +4%; Ownership RevPAR: +1% to +3%; Adjusted EBITDA: $2.98B to $3.04B; Management and franchise fees: ~+6% to +8%; Timeshare segment Adjusted EBITDA : $370M to $390M; Net income: $1.015B to $1.051B; Adjusted EPS: $1 to $1.04; Capex: $400M to $450M.
- Net unit growth is expected to be ~45,000 to 50,000 rooms.