Feb 14 – Hotel operator Hilton Worldwide Holdings Inc reported a 24 percent rise in quarterly revenue on Wednesday, as more people booked its rooms at higher prices.
Hilton reaffirmed that RevPAR – calculated by multiplying a hotel’s average daily room rate by its occupancy rate – would grow 1-3 percent in 2018.
Hilton, which gets more than three quarters of its revenue from the United States, said system-wide occupancy rose 1.8 percent in the quarter ended Dec. 31, while its average daily room rate rose 1.2 percent.
The company’s revenue rose to $2.28 billion in the fourth quarter ended Dec. 31, from $1.84 billion a year earlier.
Hilton said it expects adjusted earnings to be between $2.49 and $2.60 per share for 2018.
Analysts on average were expecting a profit of $2.56 per share, according to Thomson Reuters I/B/E/S. (Reporting by Sanjana Shivdas and Arunima Banerjee in Bengaluru; Editing by Savio D’Souza)