Hilton expects profit in 2023 on strong travel demand

Credit: REUTERS/Jeenah Moon

Adds background, forecast

Feb 9 (Reuters) - Hilton Worldwide Holdings Inc HLT.N said on Thursday it expects a full-year profit for 2023, encouraged by strong travel demand and high room rates that boosted hotel chain operator's quarterly earnings.

On an adjusted basis, Hilton expects profit to be 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 model of work, helping the industry offset rising labor costs.

For the fourth quarter, Hilton said RevPAR (revenue per available room), a key metric for investors, rose 24.8% on a currency neutral basis from a year earlier.

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 as per Refinitiv data.

(Reporting by Priyamvada C in Bengaluru; Editing by Rashmi Aich)


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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