Feb 9 (Reuters) – Hilton Worldwide Holdings Inc ( HLT.N ) said on Thursday it expected a full-year profit for 2023, boosted by strong travel demand and high room rate increases of the hotel chain operator’s quarterly income.
On an adjusted basis, Hilton expects earnings between $5.42 and $5.68 per share, compared with analyst expectations of $5.60 per share.
The hospitality sector’s recovery from the pandemic has been turbocharged by a strong appetite for travel due to household savings and a hybrid work model, helping the industry offset rising labor costs.
For the fourth quarter, Hilton said RevPAR (revenue per available room), a key metric for investors, increased 24.8% on a currency-neutral basis from a year ago. passed.
Excluding items, Hilton earned $1.59 per share for the quarter ended Dec. 31, beating analyst expectations of $1.22 per share. Its revenues rose to $2.44 billion, compared with $2.38 billion according to Refinitiv data.
Reporting by Priyamvada C in Bengaluru; Editing by Rashmi Aich
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