REUTERS

Hilton Reports Fourth Quarter, Full Year Results

Hilton Worldwide Holdings Inc. (No. 42 on the DiversityInc Top 50 Companies list) has reported its fourth quarter and full year 2016 results.


The company completed the spin-off of Park Hotels & Resorts Inc. (“Park”) and Hilton Grand Vacations Inc. (“HGV”) (the “spin-offs”) in January 2017. All results herein present the performance of Hilton without giving effect to the spin-offs, unless otherwise specified.

Additionally, all share and share-related information presented herein have been retroactively adjusted to reflect the 1-for-3 reverse stock split of Hilton’s outstanding common stock that occurred in January 2017 (the “Reverse Stock Split”), unless noted otherwise.

Highlights include:

  • Diluted loss per share was $1.17 for the fourth quarter, largely driven by $513 million of non-cash corporate restructuring charges incurred prior to the spin-offs, and diluted EPS was $1.05 for the full year
  • Diluted EPS, adjusted for special items, was $0.70 for the fourth quarter and $2.68 for the full year; diluted EPS, adjusted for special items, before giving effect to the Reverse Stock Split was $0.23 for the fourth quarter and $0.89 for the full year
  • Net loss for the fourth quarter was $382 million, and net income for the full year was $364 million
  • Adjusted EBITDA was $751 million for the fourth quarter and $2,975 million for the full year; pro forma Adjusted EBITDA was $1,763 million for the full year
  • Achieved high end of guidance on system-wide comparable RevPAR with increases of 0.9 percent and 1.8 percent for the fourth quarter and full year 2016, respectively, on a currency neutral basis from the same periods in 2015
  • Approved 29,000 new rooms for development during the fourth quarter, bringing total approvals to a record 106,000 rooms for the full year
  • Grew development pipeline 16 percent from 2015 to 1,968 hotels, consisting of 310,000 rooms, 50 percent of which are under construction
  • Net unit growth was 45,000 rooms in 2016, representing a 6.6 percent growth in managed and franchised rooms
  • Added 354 hotels to its system in 2016, opening nearly one hotel per day in the year
  • Launched its newest brand, Tapestry Collection by Hilton, in January 2017
  • Full year 2017 RevPAR projected to increase between 1.0 percent and 3.0 percent, net income from continuing operations projected to be between $555 million and $592 million and Adjusted EBITDA projected to be between $1,835 million and $1,885 million

Click here to view the full release.

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