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Hilton Worldwide reports strong Second Quarter 2014 results

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August 1, 2014

Hilton Worldwide reports strong Second Quarter 2014 results

Hilton Worldwide Reports Strong Second Quarter 2014 Results, Exceeding EPS and RevPAR Expectations; Raises Full Year Outlook

MCLEAN, Va. (August 1, 2014) – Hilton Worldwide Holdings Inc. (“Hilton,” “Hilton Worldwide” or the “Company”) (NYSE: HLT) today reported its second quarter 2014 results and raised its full year 2014 outlook. Highlights include:

? EPS and EPS, adjusted for special items, for the second quarter both increased 24 percent from the same period in 2013 to $0.21

? Net income attributable to Hilton stockholders for the second quarter was $209 million, an increase of 35 percent from the same period in 2013

? Adjusted EBITDA for the second quarter increased more than 10 percent from the same period in 2013 to $651 million and Adjusted EBITDA margin increased 110 basis points

? Management and franchise fees for the second quarter increased 14 percent from the same period in 2013 to $371 million

? System-wide comparable RevPAR increased 6.7 percent for the second quarter on a currency neutral basis from the same period in 2013

? U.S. comparable RevPAR increased 7.3 percent for the second quarter from the same period in 2013

? Opened more than 8,000 rooms in the second quarter for a total of over 17,000 rooms for the first half of 2014

? Approved 21,000 new rooms for development during the second quarter, growing its industry-leading development pipeline to 1,230 hotels, consisting of approximately 210,000 rooms, as of June 30, 2014

? Reduced long-term debt by $250 million during the second quarter and another $150 million in July 2014, for a total of $600 million through July 2014; raised full year guidance for voluntary debt prepayments to between $800 million and $1.0 billion

? Increased outlook for full year 2014 Adjusted EBITDA to between $2,425 million and $2,475 million

Overview

?For the three months ended June 30, 2014, earnings per share (“EPS”) was $0.21 compared to $0.17 for the three months ended June 30, 2013. Adjusted EBITDA increased over 10 percent to $651 million for the three months ended June 30, 2014, compared to $590 million for the three months ended June 30, 2013 and net income attributable to Hilton stockholders was $209 million for the three months ended June 30, 2014 compared to $155 million for the three months ended June 30, 2013.

For the six months ended June 30, 2014, EPS was $0.34 compared to $0.20 for the six months ended June 30, 2013. Adjusted EBITDA increased 15 percent to $1,195 million for the six months ended June 30, 2014, compared to $1,037 million for the six months ended June 30, 2013 and net income attributable to Hilton stockholders was $332 million for the six months ended June 30, 2014 compared to $189 million for the six months ended June 30, 2013.

Christopher J. Nassetta, President & Chief Executive Officer of Hilton Worldwide, said, “We had another great quarter led by a 6.7 percent increase in system-wide RevPAR, and as a result, we are increasing our Adjusted EBITDA and EPS outlook for the year.

“This quarter, we further expanded and diversified our brand portfolio with the launch of our newest brand, Curio – A Collection by Hilton,” Nassetta added. “We continue to increase the global presence of our industry-leading brands, with over 8,000 new rooms opening during the second quarter. We also remain #1 in rooms under construction in every major region of the world, with an 18 percent share of all rooms under construction globally, totaling 542 hotels and 106,000 rooms.

“I am particularly proud that Hilton Worldwide continues to innovate to better serve our guests. For the first time in the industry, our guests can check-in, using their Hilton HHonors account on a mobile device, tablet or computer, and choose their exact room from digital floor plans before arriving at their hotel. This capability will be available at U.S.-based Hilton Worldwide properties across six of our brands by the end of the summer, and by the end of 2014, guests at more than 4,000 properties in 80-plus countries can experience this new technology. Moving forward, we will give guests even more choice and control with the ability to use their smart phones as a room key and are pleased to announce that by the end of 2015, all U.S. hotels across four brands will have this capability, with the entire global portfolio of brands following soon after.”

Download the compete release.

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