Hilton reports fourth quarter and full year results; achieves record pipeline and net unit growth for the year
Hilton Worldwide Holdings Inc. ("Hilton," or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2016 results. |
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Hilton reports fourth quarter and full year results; achieves record pipeline and net unit growth for the year
Hilton Worldwide Holdings Inc. ("Hilton," or the "Company") (NYSE: HLT) today reported its fourth quarter and full year 2016 results. |
Category: Worldwide - Industry economy
- Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2017-02-16
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.
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