Hilton reports 6% global revpar rise

29 October 2015 by
Hilton reports 6% global revpar rise

Hilton has reported a worldwide rise in revenue of 5.8% for the third quarter, compared to the same period in 2014.

The hotel giant said that EBITDA was up 13% to £496m ($758m) for the three months to 30 September 2015.

For the first nine months of 2015, EBITDA was £1.4b ($2.1b).

Some 91 hotels were opened during the third quarter, while Hilton's pipeline is now 1,555 hotels in 85 countries.

It said full-year revpar was likely to be up 5% and 6.5% compared to 2014, while EBITDA was predicted to be between £1.86b ($2.84b) and £1.88b ($2.87b).

Hilton Worldwide president and chief executive Christopher J Nassetta said: "We had yet another strong quarter with adjusted EBITDA exceeding the high end of guidance. The fundamentals of our business remain strong, particularly in the US, where demand growth continues to exceed historically low levels of supply.

"New supply disproportionately favours our brands given the leading economic returns they deliver for hotel owners, resulting in accelerating net unit growth for our system."

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TagsFinance and Hotels
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