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Hilton leads the way in global hotel construction

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Hilton leads the way in global hotel construction

Hilton said that it has the largest number of bedrooms under construction among the world’s leading hotel companies, with work under way on more than 174,000 rooms.

The extent of the company’s expansion was revealed as Hilton announced its full year results for 2017, during which it opened 399 hotels consisting of 59,100 rooms.

By the end of the year Hilton had a total development pipeline of 2,257 hotels featuring 345,000 rooms, to add to the 5,200 properties with more than 856,000 bedrooms currently open across 105 countries.

Hilton’s like for like net income for 2017 was $1,264m (£899m), compared with a loss of $8m (£5.7m) the previous year, while net income for the final three months of 2017 was £841m (£598.4m), compared to the $388m (£276m) loss in the fourth quarter of 2016.

Adjusted EBITDA for October to December 2017 and the full year was $498m (£354m) and $1,965m (£1,398m) respecitvely. The adjusted EBITDA figures in 2016 were $401m (£285m) for the final quarter and $1,543m £1,098m for the full year.

The year finished strongly with a revpar increase of 3.8% during the final three months, against a 2.5% rise across the while year.

Hilton’s net income for 2018 is projected to be between $802m (£570m) and $837m (£595m), with adjusted EBITDA forecast to grow between $2,030m (£1,444m) and $2,080m (£1,480m).

Christopher Nasetta, president and chief executive of Hilton, said: “We feel great about our set up for 2018 and our ability to continue delivering record-setting results.”

There are currently 144 Hilton hotels in the UK operating under seven of the company’s 14 brands, with a further 36 properties in the pipeline.

Hilton to open third Curio hotel in London >>

Swedish company to acquire Hilton London Heathrow Airport for £80m >>


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