Hilton reports Adjusted EBITDA of $795m. for 1st Q 2025 – 20,100 rooms added

MCLEAN, VA – Hilton Worldwide Holdings Inc. reported its first quarter 2025 results. Highlights include:

• Diluted EPS was $1.23 for the first quarter, and diluted EPS, adjusted for special items, was $1.72
• Net income was $300 million for the first quarter
• Adjusted EBITDA was $795 million for the first quarter
• System-wide comparable RevPAR increased 2.5 percent, on a currency neutral basis, for the first quarter compared to the same period in 2024
• Approved 32,600 new rooms for development during the first quarter, bringing our development pipeline to 503,400 rooms as of March 31, 2025, representing growth of 7 percent from March 31, 2024
• Added 20,100 rooms to the system, resulting in 14,000 net additional rooms for the first quarter, contributing to net unit growth of 7.2 percent from March 31, 2024
• Repurchased 3.7 million shares of Hilton common stock during the first quarter; bringing total capital return, including dividends, to $927 million for the quarter and $1,157 million year to date through April
• Full year 2025 system-wide RevPAR is projected to be flat to an increase of 2.0 percent on a comparable and currency neutral basis compared to 2024; full year net income is projected to be between $1,707 million and $1,749 million; full year Adjusted EBITDA is projected to be between $3,650 million and $3,710 million
• Full year 2025 capital return is projected to be approximately $3.3 billion

Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, “We are pleased with our first quarter results, with strong bottom line performance, even with somewhat weaker macroeconomic conditions. Additionally, we expect our industryleading brands and powerful commercial engines to continue to drive strong net unit growth. Overall, we remain optimistic about our growth opportunities and are well positioned to continue creating value for our stakeholders in 2025 and beyond.”

For the three months ended March 31, 2025, system-wide comparable RevPAR increased 2.5 percent compared to the same period in 2024 due to increases in both occupancy and ADR. Management and franchise fee revenues increased 5.1 percent compared to the same period in 2024.

For the three months ended March 31, 2025, diluted EPS was $1.23 and diluted EPS, adjusted for special items, was $1.72, compared to $1.04 and $1.53, respectively, for the three months ended March 31, 2024. Net income and Adjusted EBITDA were $300 million and $795 million, respectively, for the three months ended March 31, 2025, compared to $268 million and $750 million, respectively, for the three months ended March 31, 2024.

Development

In the first quarter of 2025, we opened 186 hotels, totaling 20,100 rooms, resulting in 14,000 net room additions. We continued to grow our pipeline of lifestyle properties during the quarter, adding the Tempo by Hilton brand in the U.K., marking the brand’s first hotel outside of the U.S., the first Tapestry Collection by Hilton and Curio Collection by Hilton hotels in Athens, Greece and Canopy by Hilton in Utah, representing the brand’s first ski destination. In April 2025, we continued expanding our luxury brands, opening the Waldorf Astoria Osaka and the Waldorf Astoria Costa Rica Punta Cacique.

We added 32,600 rooms to the development pipeline during the first quarter, and, as of March 31, 2025, our development pipeline totaled 3,600 hotels representing 503,400 rooms throughout 123 countries and territories, including 27 countries and territories where we had no existing hotels. Additionally, of the rooms in the development pipeline, nearly half were under construction and more than half were located outside of the U.S.

Outlook

Share-based metrics in Hilton’s outlook include actual share repurchases through the first quarter but do not include the effect of potential share repurchases thereafter.

Full Year 2025

• System-wide comparable RevPAR, on a currency neutral basis, is projected to be flat to an increase of 2.0 percent compared to 2024.
• Diluted EPS is projected to be between $7.04 and $7.22.
• Diluted EPS, adjusted for special items, is projected to be between $7.76 and $7.94.
• Net income is projected to be between $1,707 million and $1,749 million.
• Adjusted EBITDA is projected to be between $3,650 million and $3,710 million.
• Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties, are projected to be between $250 million and $300 million.
• Capital return is projected to be approximately $3.3 billion.
• General and administrative expenses are projected to be between $420 million and $430 million.
• Net unit growth is projected to be between 6.0 percent and 7.0 percent.

Second Quarter 2025

• System-wide comparable RevPAR, on a currency neutral basis, is projected to be roughly flat compared to the second quarter of 2024.
• Diluted EPS is projected to be between $1.88 and $1.94.
• Diluted EPS, adjusted for special items, is projected to be between $1.97 and $2.02.
• Net income is projected to be between $455 million and $469 million.
• Adjusted EBITDA is projected to be between $940 million and $960 million.

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