Industry Update
Press Release 7 May 2020

Hilton Reports First Quarter Results

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Hilton Worldwide Family/group

Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its first quarter 2020 results. The following results reflect the material impact that the novel coronavirus ("COVID-19") pandemic had on Hilton's business, the effects of which were not significant until March 2020.

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Highlights include:

  • Diluted EPS was $0.06 for the first quarter, and diluted EPS, adjusted for special items, was $0.74
  • Net income was $18 million for the first quarter
  • Adjusted EBITDA was $363 million for the first quarter
  • System-wide comparable RevPAR decreased 22.6 percent on a currency neutral basis for the first quarter from the same period in 2019
  • Approved 29,500 new rooms for development during the first quarter, growing Hilton's development pipeline to 405,000 rooms as of March 31, 2020, representing 9 percent growth from March 31, 2019
  • Opened 8,800 rooms in the first quarter, contributing to 6,100 net additional rooms
  • In April 2020, pre-sold Hilton Honors points to American Express for $1.0 billion in cash
  • In April 2020, issued $1.0 billion of senior notes consisting of: (i) $500 million aggregate principal amount of 5.375% Senior Notes due 2025 and (ii) $500 million aggregate principal amount of 5.750% Senior Notes due 2028
  • Giving effect to the Hilton Honors pre-sale and issuance of senior notes, as of March 31, 2020, cash, restricted cash and cash equivalents would have been $3.8 billion

Click here to view the full release.

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