Hilton Worldwide Holdings Inc. HLT, +6.03% reported Wednesday a fourth-quarter adjusted profit and revenue that rose above expectations and provided an upbeat earnings outlook. The hotel operator’s stock was still inactive in premarket trade. Net income fell to $224 million, or 75 cents a share, from $729 million, or $2.27 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share rose to 79 cents from 53 cents, above the FactSet consensus of 69 cents. Total rose 10.6% to $2.29 billion, beating the FactSet consensus of $2.09 billion, as revenue per available room (RevPAR) rose 2.0%, driven primarily by increased average daily rates. The company opened 142 new hotels during the quarter, with net unit growth of nearly 19,000 rooms. Looking ahead, Hilton expects first-quarter adjusted EPS of 73 cents to 78 cents, above the FactSet consensus of 59 cents, and RevPAR to increased 1.0% to 3.0%. The stock has gained 4.9% over the past three months, while the S&P 500SPX, +0.32% has edged up 0.8%.
Hilton Worldwide Holdings Inc. shares were trading at $78.67 per share on Wednesday afternoon, up $4.35 (+5.85%). Year-to-date, HLT has gained 9.57%, versus a 10.01% rise in the benchmark S&P 500 index during the same period.
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