Summary:
- Hilton posted $421 million in third-quarter net income despite RevPAR declines.
- The company approved 33,000 new rooms, bringing the pipeline to 515,400 as of Sept. 30.
- The development pipeline included 3,648 hotels across 128 countries.
HILTON WORDLWIDE HOLDINGS reported third-quarter net income of $421 million and a global development pipeline of more than 515,000 rooms. Systemwide comparable RevPAR fell 1.1 percent on a currency-neutral basis from the same period in 2024, driven by lower occupancy and ADR.
Adjusted EBITDA was $976 million for the quarter, compared with $344 million and $904 million a year earlier, Hilton said in a statement. Net income for the nine months ended Sept. 30 was $1.163 billion and adjusted EBITDA was $2.779 billion, up from $1.034 billion and $2.571 billion a year earlier.
“Our third-quarter results demonstrate the resilience of our business model, delivering strong performance despite softer industry RevPAR,” said Chris Nassetta, Hilton’s president and CEO. “We remain optimistic that in the U.S., lower interest rates, a more favorable regulatory environment, certainty on tax policy and a significant investment cycle will accelerate economic growth and travel demand. Paired with limited industry supply growth, this should drive stronger RevPAR growth over the next several years. The quality of our development pipeline, acceleration in new construction starts, the attractiveness of our brands for conversions and continued global brand growth give us confidence in delivering net unit growth of 6.5 percent to 7 percent in 2025 and 6 percent to 7 percent over the next several years.”
Hilton approved 33,000 new rooms for development during the quarter, bringing the pipeline to 515,400 rooms as of Sept. 30, up 5 percent from a year earlier. The company added 24,800 rooms to the system, resulting in 23,200 net additions and 6.5 percent net unit growth. It opened 199 hotels, including its 9,000th property, Signia by Hilton La Cantera Resort and Spa and launched its lifestyle brand Outset Collection, with more than 60 hotels in development.
The company’s development pipeline included 3,648 hotels across 128 countries and territories as of Sept. 30, including 26 countries with no existing hotels, Hilton said. Nearly half the rooms were under construction and more than half were outside the U.S.
Full-year 2025 systemwide RevPAR is projected to be flat to up 1 percent on a currency-neutral basis. Net income is forecast at $1.604 billion to $1.625 billion, with adjusted EBITDA at $3.685 billion to $3.715 billion. Capital return is expected at about $3.3 billion and net unit growth is projected at 6.5 percent to 7 percent.
For the fourth quarter, systemwide RevPAR is projected to rise about 1 percent from a year earlier. Net income is expected at $441 million to $462 million, with adjusted EBITDA at $906 million to $936 million.
Hilton reported 7.5 percent net unit growth in the second quarter of 2025, while noting that systemwide RevPAR fell 0.5 percent year-over-year amid economic fluctuations.
