Hilton Worldwide Holdings Inc New (HLT)

Hilton Partners with Big Brothers Big Sisters to Open Doors of Opportunity Across AmericaJune 18, 2026 11:17 AM
Business Wire Partnership offers immersive career exploration and mentorship experiences in hotels across six U.S. cities Hilton’s largest-ever charitable Points donation of 250 Million Hilton Honors Points will create transformative travel experiences for youth Hilton has long believed travel can do more than take someone somewhere new: it can expand perspectives, build confidence and open doors to new experiences, opportunities and connections. For many young people, a first trip or new travel experience can change not only how they see the world, but how they see themselves in it. To help create more of those possibilities, Hilton and the Hilton Global Foundation today announced a new nationwide partnership with Big Brothers Big Sisters of America (BBBSA) designed to provide young people access to mentorship, exposure to career paths in hospitality and transformative travel experiences. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260618302004/en/Hilton and Big Brothers Big Sisters of America launch a partnership across select U.S. properties, including Signia by Hilton Atlanta Georgia World Congress Center and DoubleTree by Hilton Grand Hotel Biscayne Bay. The partnership will include immersive career exploration and mentorship experiences for Big Brothers Big Sisters’ youth participants, or Littles, across Hilton properties in the U.S. In addition, Hilton will be donating its largest-ever charitable Points donation: 250 million Hilton Honors Points to BBBSA. Grounded in the belief that opportunity expands what’s possible, the donation is equivalent to more than 3,000 standard room nights and will go towards creating transformative travel experiences for Big Brothers Big Sisters’ Littles and their families across the country – giving them opportunities to visit iconic Hilton properties, experience new places, gain new perspectives and imagine new possibilities. “At Hilton, we know hospitality is a powerful engine for opportunity; a first step on the career ladder helps open doors to meaningful careers, economic mobility and life-changing success,” said Katherine Lugar, executive vice president, corporate affairs, Hilton and president, Hilton Global Foundation. “Through this partnership with Big Brothers Big Sisters of America, our team members will help young people see what’s possible through hospitality – connecting them with mentors, real-world career exposure and the tools and travel experiences to build confidence and strengthen their skills – inspiring and expanding their horizons along the way.” Closing the Opportunity Gap An estimated 4.3 million young people ages 16-24 in the United States are neither in school nor working*, representing an opportunity gap that can limit their potential and future success. Through this partnership, Hilton and BBBSA aim to help close that gap by combining the power of mentorship with Hilton’s Travel with Purpose commitment to expand access to career growth opportunities. Over the next year, the partnership will create more than 10,000 mentoring moments across six U.S. markets, helping young people build confidence, see new possibilities and imagine opportunities they may not have thought possible. The announcement marks the beginning of a scalable model designed to expand nationwide and deepen impact for young people and communities over time. Beginning in the 2026–2027 school year, Big Brothers Big Sisters’ participants ages 16-25 will engage in a structured development experience across Hilton properties and corporate locations designed to build mentorship relationships, strengthen professional skills and provide immersive career exposure. Littles from local middle and high schools will be paired with Hilton team members within six markets in the United States, including Anaheim, Calif.; Atlanta, Ga.; Dallas, Texas; Columbus, Ohio; Miami, Fla.; and Washington, D.C. to participate in: Monthly on-property mentoring with Hilton team members who will provide guidance, encouragement and real-world perspective to Littles Curated skill-building experiences focused on workplace readiness, communication and professional growth “For 120 years, Big Brothers Big Sisters has seen the impact when a positive adult empowers a young person and opens doors they never knew existed,” said Artis Stevens, president and CEO, Big Brothers Big Sisters of America. “Hilton shares our belief that every young person deserves the chance to realize their potential, and through our partnership, we're meeting them where they are and connecting them to meaningful careers by providing career exposure, skills training and onramps to meaningful employment." Supporting America’s Legacy of Opportunity America’s legacy has long been defined by the promise that opportunity can lead to progress. Fittingly timed to America’s 250th anniversary, Hilton’s donation of 250 million Hilton Honors Points to BBBSA will encourage young people around the country to explore the potential of hospitality careers. For many, a first job at Hilton becomes the start of something much bigger: a pathway to growth, leadership and a brighter future. Opportunity comes to life every day at Hilton properties across the country: Nearly two-thirds (63%) of leadership roles are filled by people who started with the company, with U.S. team members stepping into first-time management roles in an average of four years. Reflecting Hilton’s lower-than-industry-average turnover rate, nearly one-third (32%) of U.S. team members have built careers lasting more than a decade. By investing in people, Hilton is strengthening the pathway from an opportunity to a career and is partnering with BBBSA to expand access to opportunities for young people – helping to ensure the American dream remains reachable and growing for the next generation. Hospitality as a Force for Good Around the World As the No. 1 World’s Best Workplace, with more than 500,000 team members and 9,200 properties across 144 countries and territories, Hilton is also leveraging its global scale to help bridge the opportunity divide, serving as the ladder of opportunity for thousands. Since 2022, Hilton has created 3.1 million career development opportunities around the world through nonprofit partners focused on hospitality skill-development and access to careers across the industry. Through the Hilton Global Foundation and Hilton UK Foundation, Hilton partners with dozens of nonprofit organizations around the world that share a belief in the power of mentorship, career exposure and skill-development to create pathways to meaningful careers in hospitality. These partnerships include D.C. Central Kitchen and Big Brothers Big Sisters of America in the United States, STREETS International in Vietnam, and Springboard in the United Kingdom – all working to expand access to opportunity to help people build confidence, achieve economic independence and thrive. Together with these partners, Hilton is advancing its founding purpose to spread the light and warmth of hospitality, opening doors to opportunity and demonstrating how hospitality can be a powerful force for good. For more information about Big Brothers Big Sisters or to volunteer, visit bbbs.org. To learn more about Hilton’s efforts to open doors of opportunity visit stories.hilton.com/opportunity. *Source: The American Community Survey (ACS), U.S. Census Bureau View source version on businesswire.com: https://www.businesswire.com/news/home/20260618302004/en/ Media Contact:
Josie Hill
Josie.Hill@Hilton.com Original: Hilton Partners with Big Brothers Big Sisters to Open Doors of Opportunity Across America

Hilton Unveils New Workplace Research Showing That Even as AI Is Reshaping Work, the Real Advantage Is HumanJune 4, 2026 9:04 AM
Business Wire New report finds purpose, mentorship, flexibility and emotionally intelligent leadership drive retention and performance, with hospitality leadership principles creating the unexpected new blueprint for building workplace culture As work becomes more digital, fast-paced and increasingly disconnected, a critical driver of workplace performance in every sector is being overlooked: human-led hospitality. Today, Hilton unveiled “The Hospitality Mindset: A New Blueprint for Culture and Performance for Any Industry,” a new report where workers overwhelmingly cite human-centered factors as the strongest drivers of productivity and satisfaction at work. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260603209348/en/Conrad Tulum Riviera Maya (Photo: Hilton) The report combines new workforce research from Ipsos and Morning Consult among U.S. workers with insights from leaders at Hilton’s top-performing hotels to identify the emerging behaviors shaping the future of work and examine how hospitality-inspired leadership can strengthen workplace culture across industries. Recently named the World’s Best Workplace by Great Place to Work and Fortune, Hilton offers a real-world view into the leadership behaviors that drive connection, retention and performance at scale as it operates a global business with hundreds of roles and team structures in 144 countries and territories. That perspective is especially relevant as the business case for employee engagement continues to grow: According to Gallup, companies with high employee engagement experience 18% more productivity and 23% more profitability than those with low engagement. The project challenges current assumptions about workplace culture, revealing that workers continue to seek connection, trust and belonging in a hybrid world, with nearly 50% of early-career workers reporting feeling lonely at work (Ipsos). At the same time, as organizations navigate rapid AI-driven change, work is becoming more transactional, creating new pressure on leaders to build cultures that foster genuine human connection, with 77% of respondents saying they are more likely to stay when leaders actively build a sense of community (Ipsos). “As work becomes more digital and AI reshapes the workplace, people still want the same fundamental things: connection, trust and a sense that they matter,” said Laura Fuentes, chief human resources officer, Hilton, and head of Hilton Supply Management. “The companies that create that kind of culture will be the ones that attract talent, retain teams and outperform over time.” The report features two sections: First, it incorporates new research commissioned by Hilton from Ipsos and Morning Consult that explores five trends challenging and reshaping today’s workplaces across all industries. Next, it draws insights from an internal Hilton study where researchers tapped into the wisdom and decades-long experience of some of the top people leaders in business – hotel general managers – and offers practical, tangible “hospitality hacks” that any industry can employ to build better connected teams, strengthen culture and improve business outcomes. Section 1: The Trends The report introduces five workplace trends that will define the next era of leadership and workplace performance: Mutual Mentorship: Workers are shifting from top-down learning to shared, two-way development because learning flows best in every direction. RTO: Return to Opportunity: The physical workplace is evolving into a hub for connection and culture, where in-person connection fuels trust, belonging and innovation. From AI Anxiety to AI Agency: Success around AI transformation will be found by providing training and support, enabled by shifting from anxiety to curiosity, with humans not only in the loop, but firmly in the lead. Chief Host Officer: The New Leadership Vibe: Engagement and happiness are driven more by relationships with managers than by traditional workplace perks, where presence, care and attention unlock performance. The Meaning Multiplier: Purpose drives engagement, but retention strengthens when it’s paired with belonging and autonomy. Here’s what the research revealed about each trend in detail: Mutual Mentorship Modern teams perform best when learning is shared, not hierarchical. The most effective workplaces are shifting away from top-down development models and toward a mutual mentorship mindset where everyone teaches, everyone learns and everyone grows. Workers consistently point to human-centered factors like mentorship, culture and feeling valued as the biggest drivers of satisfaction. When growth is continuous, visible and personal, workers are more engaged, more fulfilled and more likely to stay. 74% of workers say mentorship opportunities are important (Ipsos) 77% say mentorship opportunities impact happiness at work (Ipsos) 75% are more likely to stay at organizations where leaders focus on developing them as individuals (Ipsos) RTO: Return to Opportunity The biggest shift in work hasn’t been where people work, it’s how they connect. Across roles and generations, workers are craving stability, visibility and a sense of belonging. Despite evolving work models, the majority still see value in coming together in person. The most effective return-to-office strategies focus on creating meaningful moments that build relationships, foster learning and strengthen teams. 94% say returning to the office serves a purpose today (Morning Consult) 96% of Gen Z workers see value in coming into the office (Morning Consult) Nearly 50% of early-career workers report feeling lonely at work (Ipsos) From AI Anxiety to AI Agency AI is transforming the way we work, but the real challenge is how people are experiencing the change. Many workers feel uncertain about AI’s impact, and are looking to employers for clarity, tools and support. Organizations that take a human-centered approach – with humans not just in the loop but firmly in the lead – prioritizing learning, experimentation and confidence-building, can shift workers from anxiety to agency. When people feel equipped and supported, AI becomes a catalyst for growth rather than a source of fear. 52% of workers feel anxious about AI’s impact on their job (Ipsos) 62% believe AI will significantly change how they work within the next three years (Ipsos) 55% expect employers to provide AI skills, tools and subscriptions (Ipsos) Chief Host Officer: The New Leadership Vibe Today’s workforce is redefining what matters most, and it’s not ping-pong tables or free food. Workers are looking for something more human: to feel seen, heard and valued by their leaders. Strong manager relationships, meaningful growth opportunities and a sense of connection are the true drivers of engagement and retention. The most effective leaders operate in “host mode,” where they create environments in which people thrive through presence, attention and genuine care. 92% say a good relationship with their manager is critical to happiness (Morning Consult) 50% cite feeling valued as a top driver of why they stay in their jobs (Morning Consult) Approximately 40% of workers say they would stay in their job for workplace relationships (Morning Consult) The Meaning Multiplier Purpose is no longer a “nice-to-have.” Instead, it’s a stabilizing force in times of change. Workers want to know that their efforts matter and contribute to something bigger. That sense of meaning is amplified when paired with belonging and autonomy, and when people feel connected to others and empowered to act. When leaders reinforce purpose through everyday experiences, engagement strengthens, performance improves and retention follows. 88% say purpose influences career decisions and 85% say work that makes a difference influences their career decisions (Ipsos) 77% are more likely to stay when leaders actively build a sense of community (Ipsos) 52% of workers say a sense of accomplishment (like checking off a to-do list), and 33% say manager recognition defines a good day at work (Ipsos) Section 2: A Practical Playbook for Managers Filled with “Hospitality Hacks” Hilton also outlines management practices leaders can use to respond to those workforce pressures. Drawing on high-performing hotel teams, the playbook highlights simple practices leaders in any industry can adapt to strengthen culture, improve collaboration and support retention: Activating cross-functional “task forces” to accelerate learning and agility: Build cross-trained “surge” teams to support short-term peak periods, share knowledge quickly and strengthen a mentorship mindset where everyone teaches and learns. Creating intentional spaces and moments for connection and community: Design consistent touchpoints and shared spaces (physical or virtual) where teams connect, surface issues early and build relationships that improve day-to-day collaboration. Replace performative presence with real presence: Leaders spend structured time where work happens to coach in the moment, spot friction and build trust. Make AI learning intriguing, not frightening: Provide tools and training, then normalize “learning out loud” through bite-sized pilots, team demos and internal forums that turn anxiety into agency. Create your own holiday: Turn recognition into rituals and repeatable moments that reinforce purpose and belonging and encourage the behaviors you want to see more often. Implications For Today’s Workforce The pressure on organizations to perform has never been higher, but neither have the expectations of their people. As AI reshapes roles, organizational charts continue to evolve and workloads increase, leaders must create cultures where people can perform at their best, learn new skills and benefit from each other. Hilton’s research makes clear that traditional culture investments like perks, policies or technology investments alone are no longer enough. Workers are prioritizing human experiences and are making career decisions based on how well organizations deliver on those needs. Companies that fail to adapt risk missing out on high-potential talent, experiencing higher turnover, lower engagement and missed performance opportunities. At the same time, Hilton’s report shows that change does not require massive transformation. Instead, culture can have a larger impact through small, intentional shifts in leadership behavior, such as being present, fostering connection, investing in development and reinforcing purpose. For business leaders, the implication is clear: creating a more hospitable, human-centered workplace is no longer optional, it’s a competitive advantage. Read the full report at stories.hilton.com/thehospitalitymindset. Methodology The Workplace Culture Report combines (1) newly commissioned workforce research conducted with Ipsos and Morning Consult and (2) an internal Hilton study of high-performing hotel properties with top guest service scores. Hilton researchers conducted on-site assessments and interviews with hotel general managers and teams to identify cultural practices and leadership behaviors associated with exceptional performance. Ipsos: These are the findings of a poll conducted by Ipsos on behalf of Hilton between October 31 – November 17, 2025. For this survey, a sample of 2,002 adults ages 18+ from the United States were interviewed online in English. To qualify for the survey, respondents have to be currently employed full-time or part-time, or have been employed in the past 24 months. Morning Consult: These are the findings of a poll conducted by Morning Consult on behalf of Hilton. The survey was fielded March 23-25, 2026, among a national sample of 2,005 U.S. adults. The findings in this report focus on the 847 respondents who indicated they are currently employed. About Hilton Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 28 world-class brands comprising more than 9,200 properties and over 1.3 million rooms, in 144 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 4 billion guests in its more than 100-year history. Named as the No. 1 World’s Best Workplace by Great Place to Work and Fortune, Hilton aims to create the best culture for its 500,000 team members around the world. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 250 million Hilton Honors members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on Facebook, LinkedIn, Instagram and YouTube. View source version on businesswire.com: https://www.businesswire.com/news/home/20260603209348/en/ Jennifer Nycz-Conner
Hilton
jennifer.nycz-conner@hilton.com Original: Hilton Unveils New Workplace Research Showing That Even as AI Is Reshaping Work, the Real Advantage Is Human

Hilton Announces Pricing of Senior Notes OfferingMay 7, 2026 4:28 PM
Business Wire Hilton Worldwide Holdings Inc. (NYSE: HLT) (“Hilton”) announced today that its indirect subsidiary Hilton Domestic Operating Company Inc. (the “Issuer”) successfully finalized the terms of the Issuer’s offering of $1 billion aggregate principal amount of 5.500% Senior Notes due 2031 (the “Notes”). The Issuer anticipates that consummation of the offering will occur on May 11, 2026, subject to customary closing conditions, and intends to use the net proceeds of the offering to repay $450 million of borrowings under the Issuer’s senior secured revolving credit facility, and the remainder for general corporate purposes. The Notes offered have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes were offered by the initial purchasers only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to Hilton’s expectations regarding the performance of its business, future financial results, liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “forecasts,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks inherent to the hospitality industry; macroeconomic factors beyond Hilton’s control, such as inflation, changes in interest rates, challenges due to labor shortages or disputes and supply chain disruptions; the loss of key senior management personnel; competition for hotel guests and management and franchise contracts; risks related to doing business with third-party hotel owners; performance of Hilton’s information technology systems; growth of reservation channels outside of Hilton’s system; risks of doing business outside of the U.S.; risks associated with geopolitical conflicts, including Iran; uncertainty resulting from U.S. and global political trends, tariffs and other policies, including potential barriers to travel, trade and immigration and other geopolitical events; and Hilton’s indebtedness. Additional factors that could cause Hilton’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Part I—Item 1A. Risk Factors” of Hilton’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which is filed with the Securities and Exchange Commission (the “SEC”) and is accessible on the SEC’s website at www.sec.gov. Such factors may be updated from time to time in our periodic filings with the SEC. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton’s filings with the SEC. Hilton undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260507438242/en/ Investor Contact
Charlie Ruehr
+1 703 883 1000 Media Contact
Kent Landers
+1 703 883 3246 Original: Hilton Announces Pricing of Senior Notes Offering

Hilton Announces Launch of Senior Notes OfferingMay 7, 2026 8:54 AM
Business Wire Hilton Worldwide Holdings Inc. (NYSE: HLT) (“Hilton”) announced today that its indirect subsidiary Hilton Domestic Operating Company Inc. (the “Issuer”) intends to offer $1 billion aggregate principal amount of the Issuer’s Senior Notes due 2031 (the “Notes”). The Issuer intends to use the net proceeds of the offering to repay $450 million of borrowings under the Issuer’s senior secured revolving credit facility, and the remainder for general corporate purposes. The Notes to be offered have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws. The Notes may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered by the initial purchasers only to persons reasonably believed to be “qualified institutional buyers” in reliance on the exemption from registration provided by Rule 144A under the Securities Act and to certain non-U.S. persons in offshore transactions in reliance on Regulation S under the Securities Act. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act, and it is neither an offer to sell nor a solicitation of an offer to buy any securities and shall not constitute an offer to sell or a solicitation of an offer to buy, or a sale of, the Notes or any other securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to Hilton’s expectations regarding the performance of its business, future financial results, liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “forecasts,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks inherent to the hospitality industry; macroeconomic factors beyond Hilton’s control, such as inflation, changes in interest rates, challenges due to labor shortages or disputes and supply chain disruptions; the loss of key senior management personnel; competition for hotel guests and management and franchise contracts; risks related to doing business with third-party hotel owners; performance of Hilton’s information technology systems; growth of reservation channels outside of Hilton’s system; risks of doing business outside of the U.S.; risks associated with geopolitical conflicts, including Iran; uncertainty resulting from U.S. and global political trends, tariffs and other policies, including potential barriers to travel, trade and immigration and other geopolitical events; and Hilton’s indebtedness. Additional factors that could cause Hilton’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Part I—Item 1A. Risk Factors” of Hilton’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which is filed with the Securities and Exchange Commission (the “SEC”) and is accessible on the SEC’s website at www.sec.gov. Such factors may be updated from time to time in our periodic filings with the SEC. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton’s filings with the SEC. Hilton undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260506424589/en/ Investor Contact
Charlie Ruehr
+1 703 883 1000 Media Contact
Kent Landers
+1 703 883 3246 Original: Hilton Announces Launch of Senior Notes Offering

Hilton Reports First Quarter Results; Raises Full Year OutlookApril 28, 2026 6:00 AM
Business Wire
Hilton Worldwide Holdings Inc. ("Hilton," "the Company," "we," "us" or "our") (NYSE: HLT) today reported its first quarter 2026 results. Highlights include:

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428679863/en/

Diluted EPS was $1.66 for the first quarter, and diluted EPS, adjusted for special items, was $2.01



Net income was $383 million for the first quarter



Adjusted EBITDA was $901 million for the first quarter



System-wide comparable RevPAR increased 3.6 percent, on a currency neutral basis, for the first quarter compared to the same period in 2025



Approved 26,200 new rooms for development during the first quarter, bringing our development pipeline to 527,000 rooms as of March 31, 2026, representing growth of 5 percent from March 31, 2025



Added 16,300 rooms to our system, resulting in 10,900 net additional rooms for the first quarter, contributing to net unit growth of 6.3 percent from March 31, 2025



In March 2026, announced the launch of a new brand, Select by Hilton, combining the trust and perks guests expect from Hilton with the creativity and spirit of independent brands, with YOTEL, an independent lifestyle brand, becoming the first brand under Select by Hilton through an exclusive agreement



Repurchased 2.7 million shares of Hilton common stock during the first quarter, bringing total capital return, including dividends, to $860 million for the quarter and $1,084 million year to date through April



Full year 2026 system-wide RevPAR is projected to increase between 2.0 percent and 3.0 percent on a comparable and currency neutral basis compared to 2025; full year net income is projected to be between $1,909 million and $1,937 million; full year Adjusted EBITDA is projected to be between $4,020 million and $4,060 million



Full year 2026 capital return is projected to be approximately $3.5 billion



Overview


Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "We delivered great top and bottom-line results for the quarter with RevPAR growth across all chain-scales and brands and customer segments. The results demonstrate a continuation of strengthening demand trends we’ve seen since late 2025 that are supported by macroeconomic tailwinds most evident in the U.S. On the development side, we achieved the largest pipeline in our history, and we remain confident in our ability to deliver net unit growth of 6.0 percent to 7.0 percent in 2026 and beyond.”


For the three months ended March 31, 2026, system-wide comparable RevPAR increased 3.6 percent compared to the same period in 2025 due to increases in both occupancy and ADR. Management and franchise fee revenues increased 10.4 percent compared to the same period in 2025.


For the three months ended March 31, 2026, diluted EPS was $1.66 and diluted EPS, adjusted for special items, was $2.01, compared to $1.23 and $1.72, respectively, for the three months ended March 31, 2025. Net income and Adjusted EBITDA were $383 million and $901 million, respectively, for the three months ended March 31, 2026, compared to $300 million and $795 million, respectively, for the three months ended March 31, 2025.


Development


In the first quarter of 2026, we opened 131 hotels, totaling 16,300 rooms, resulting in 10,900 net room additions. Notable openings included The Monarch San Antonio, Curio Collection by Hilton, defining a new chapter for the city's hotel landscape, and the Motto by Hilton Recife Antigo, marking the debut of the lifestyle brand in Brazil. In April, we opened Waldorf Astoria Rabat Sale, the first Waldorf Astoria in Morocco. During the quarter, we signed the Motto by Hilton Sydney City Centre, representing the brands' debut in Australia, and two LXR Hotels and Resorts in Japan, the Meguro Gajoen Tokyo and Hakone, Gora, bringing our total LXR Hotels and Resorts pipeline to over 20 hotels.


We added 26,200 rooms to the development pipeline during the first quarter, and, as of March 31, 2026, our development pipeline totaled 3,768 hotels representing 527,000 rooms throughout 129 countries and territories, including 26 countries and territories where we had no existing hotels. Additionally, of the rooms in the development pipeline, almost half were under construction and more than half were located outside of the U.S.


Balance Sheet and Liquidity


As of March 31, 2026, we had $12.5 billion of debt outstanding, excluding the deduction for unamortized deferred financing costs and discount, with a weighted average interest rate of 5.00 percent. Excluding all finance lease liabilities, we had $12.1 billion of debt outstanding with a weighted average interest rate of 5.01 percent and no material indebtedness that matures prior to April 2027. We believe that we have sufficient sources of liquidity and access to debt markets to address the repayment of all indebtedness that becomes due at or prior to the respective maturity dates.


In March 2026, we amended the credit agreement governing our senior secured revolving credit facility (the "Revolving Credit Facility") to extend the expected maturity date and reprice the rate on amounts outstanding to the secured overnight financing rate plus 1.00%. In connection with this amendment, we incurred approximately $5 million of debt issuance costs. As of March 31, 2026, no borrowings were outstanding under our Revolving Credit Facility, which had an available borrowing capacity of $1,894 million after considering $106 million of letters of credit outstanding. In April 2026, we borrowed $265 million under the Revolving Credit Facility for general corporate purposes and subsequently repaid $115 million of the outstanding indebtedness. Total cash and cash equivalents were $619 million as of March 31, 2026, including $55 million of restricted cash and cash equivalents.


In March 2026, we paid a quarterly cash dividend of $0.15 per share of common stock, for a total payment of $35 million for the quarter. In April 2026, our board of directors authorized a regular quarterly cash dividend of $0.15 per share of common stock to be paid on June 30, 2026 to holders of record of our common stock as of the close of business on May 22, 2026.


During the three months ended March 31, 2026, we repurchased 2.7 million shares of Hilton common stock at an average price per share of $301.71, for a total of $825 million, returning $860 million of capital to shareholders, including dividends.


The number of shares outstanding as of April 23, 2026 was 227.6 million. Total capital return year to date through April, including dividends, was $1,084 million.


Outlook


Share-based metrics in Hilton's outlook include actual share repurchases through the first quarter but do not include the effects of potential share repurchases thereafter.


Full Year 2026



System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 2.0 percent and 3.0 percent compared to 2025.



Diluted EPS is projected to be between $8.28 and $8.40.



Diluted EPS, adjusted for special items, is projected to be between $8.79 and $8.91.



Net income is projected to be between $1,909 million and $1,937 million.



Adjusted EBITDA is projected to be between $4,020 million and $4,060 million.



Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties, are projected to be approximately $300 million.



Capital return is projected to be approximately $3.5 billion.



General and administrative expenses are projected to be approximately $400 million.



Net unit growth is projected to be between 6.0 percent and 7.0 percent.



Second Quarter 2026



System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 2.0 percent and 3.0 percent compared to the second quarter of 2025.



Diluted EPS is projected to be between $2.13 and $2.19.



Diluted EPS, adjusted for special items, is projected to be between $2.18 and $2.24.



Net income is projected to be between $491 million and $505 million.



Adjusted EBITDA is projected to be between $1,015 million and $1,035 million.



Projected second quarter year over year growth rates for profitability measures are impacted by one-time fees and favorable timing items specific to the second quarter of 2025, as well as the outsized impact of anticipated lower Middle East RevPAR.



Conference Call


Hilton will host a conference call to discuss first quarter of 2026 results on April 28, 2026 at 9:00 a.m. Eastern Time. Participants may listen to the live webcast by logging on to the Hilton Investor Relations website at https://ir.hilton.com/events-and-presentations. A replay and transcript of the webcast will be available within 24 hours after the live event at https://ir.hilton.com/financial-reporting.


Alternatively, participants may listen to the live call by dialing 1-888-317-6003 in the United States ("U.S.") or 1-412-317-6061 internationally using the conference ID 9497198. Participants are encouraged to dial into the call or link to the webcast at least fifteen minutes prior to the scheduled start time. A telephone replay will be available for seven days following the call. To access the telephone replay, dial 1-855-669-9658 in the U.S. or 1-412-317-0088 internationally using the conference ID 3095590.


Forward-Looking Statements


This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, future financial results, liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "forecasts," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties including, among others, risks inherent to the hospitality industry; macroeconomic factors beyond our control, such as inflation, changes in interest rates, challenges due to labor shortages or disputes and supply chain disruptions; the loss of key senior management personnel; competition for hotel guests and management and franchise contracts; risks related to doing business with third-party hotel owners; performance of our information technology systems; growth of reservation channels outside of our system; risks of doing business outside of the U.S.; risks associated with geopolitical conflicts, including Iran; uncertainty resulting from U.S. and global political trends, tariffs and other policies, including potential barriers to travel, trade and immigration and other geopolitical events; and our indebtedness. Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found under the section entitled "Part I—Item 1A. Risk Factors" of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, which is filed with the Securities and Exchange Commission (the "SEC") and is accessible on the SEC's website at www.sec.gov. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in our filings with the SEC. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.


Definitions


See the "Definitions" section for the definition of certain terms used within this press release, including within the schedules.


Non-GAAP Financial Measures


We refer to certain financial measures that are not recognized under U.S. generally accepted accounting principles ("GAAP") in this press release, including: net income, adjusted for special items; diluted EPS, adjusted for special items; Adjusted EBITDA; Adjusted EBITDA margin; net debt; and net debt to Adjusted EBITDA ratio. See the schedules to this press release, including the "Definitions" section, for additional information and reconciliations of such non-GAAP financial measures, as well as the most comparable GAAP financial measures.


About Hilton


Hilton (NYSE: HLT) is a leading global hospitality company with a portfolio of 27 world-class brands comprising more than 9,200 properties and over 1.3 million rooms, in 144 countries and territories. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 4 billion guests in its more than 100-year history. Named as the No. 1 World's Best Workplace by Great Place to Work and Fortune, Hilton aims to create the best culture for its 500,000 team members around the world. Hilton has introduced industry-leading technology enhancements to improve the guest experience, including Digital Key Share, automated complimentary room upgrades and the ability to book confirmed connecting rooms. Through the award-winning guest loyalty program Hilton Honors, the more than 250 million Hilton Honors members who book directly with Hilton can earn Points for hotel stays and experiences money can't buy. With the free Hilton Honors app, guests can book their stay, select their room, check in, unlock their door with a Digital Key and check out, all from their smartphone. Visit stories.hilton.com for more information, and connect with Hilton on facebook.com/hiltonnewsroom, x.com/hiltonnewsroom, linkedin.com/company/hilton, instagram.com/hiltonnewsroom and youtube.com/@hilton.




HILTON WORLDWIDE HOLDINGS INC.




EARNINGS RELEASE SCHEDULES




TABLE OF CONTENTS








 








Condensed Consolidated Statements of Operations








Comparable and Currency Neutral System-Wide Hotel Operating Statistics








Property Summary








Capital Expenditures and Contract Acquisition Costs








Reconciliations of Non-GAAP Financial Measures








Definitions









HILTON WORLDWIDE HOLDINGS INC.




CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS




(in millions, except per share data)




(unaudited)








 



 






Three Months Ended








 






March 31,








 






2026






 






2025








Revenues






 






 






 








Franchise and licensing fees






$






696






 






 






$






625






 








Base and other management fees






 






95






 






 






 






88






 








Incentive management fees






 






76






 






 






 






72






 








Ownership






 






249






 






 






 






234






 








Other revenues






 






66






 






 






 






46






 








 






 






1,182






 






 






 






1,065






 








Cost reimbursement revenues






 






1,755






 






 






 






1,630






 








Total revenues






 






2,937






 






 






 






2,695






 








 






 






 






 








Expenses






 






 






 








Ownership






 






235






 






 






 






239






 








Depreciation and amortization






 






50






 






 






 






41






 








General and administrative






 






103






 






 






 






94






 








Other expenses






 






22






 






 






 






26






 








 






 






410






 






 






 






400






 








Reimbursed expenses






 






1,849






 






 






 






1,759






 








Total expenses






 






2,259






 






 






 






2,159






 








 






 






 






 








Operating income






 






678






 






 






 






536






 








 






 






 






 








Interest expense






 






(162






)






 






 






(145






)








Gain (loss) on foreign currency transactions






 






(5






)






 






 






2






 








Other non-operating income, net






 






7






 






 






 






17






 








 






 






 






 








Income before income taxes






 






518






 






 






 






410






 








 






 






 






 








Income tax expense






 






(135






)






 






 






(110






)








 






 






 






 








Net income






 






383






 






 






 






300






 








Net loss attributable to redeemable and nonredeemable noncontrolling interests






 






2






 






 






 






—






 








Net income attributable to Hilton stockholders






$






385






 






 






$






300






 








 






 






 






 








Weighted average shares outstanding:






 






 






 








Basic






 






229






 






 






 






240






 








Diluted






 






232






 






 






 






243






 








 






 






 






 








Earnings per share:






 






 






 








Basic






$






1.68






 






 






$






1.25






 








Diluted






$






1.66






 






 






$






1.23






 








 






 






 






 








Cash dividends declared per share






$






0.15






 






 






$






0.15






 









HILTON WORLDWIDE HOLDINGS INC.




COMPARABLE AND CURRENCY NEUTRAL SYSTEM-WIDE HOTEL OPERATING STATISTICS




BY REGION, BRAND AND SEGMENT




(unaudited)








 



 






Three Months Ended March 31,








 






Occupancy






 






ADR






 






RevPAR








 






2026






 






vs. 2025






 






2026






 






vs. 2025






 






2026






 






vs. 2025








 






 






 






 






 






 






 






 






 






 






 






 






 








System-wide






67.4






%






 






1.4






%






pts.






 






$






157.14







 






1.5






%






 






$






105.97







 






3.6






%








 






 






 






 






 






 






 






 






 






 






 






 






 








Region






 






 






 






 






 






 






 






 






 






 






 






 








U.S.






68.7






%






 






1.3






%






pts.






 






$






168.08






 






 






1.4






%






 






$






115.40






 






 






3.4






%








Americas (excluding U.S.)






63.4






 






 






1.1






 






 






 






 






157.35






 






 






2.7






 






 






 






99.81






 






 






4.4






 








Europe






66.1






 






 






2.3






 






 






 






 






150.17






 






 






3.2






 






 






 






99.22






 






 






6.9






 








Middle East & Africa






64.3






 






 






(4.1






)






 






 






 






220.29






 






 






4.6






 






 






 






141.62






 






 






(1.7






)








Asia Pacific






64.8






 






 






2.2






 






 






 






 






101.22






 






 






1.1






 






 






 






65.58






 






 






4.7






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Brand(1)






 






 






 






 






 






 






 






 






 






 






 






 








Waldorf Astoria Hotels & Resorts






66.2






%






 






1.1






%






pts.






 






$






495.56






 






 






(0.8






)%






 






$






328.09






 






 






0.8






%








Conrad Hotels & Resorts






72.6






 






 






0.5






 






 






 






 






299.29






 






 






1.6






 






 






 






217.41






 






 






2.3






 








LXR Hotels & Resorts






67.8






 






 






9.3






 






 






 






 






523.95






 






 






3.8






 






 






 






355.47






 






 






20.2






 








Canopy by Hilton






69.2






 






 






2.8






 






 






 






 






225.16






 






 






2.0






 






 






 






155.84






 






 






6.3






 








Hilton Hotels & Resorts






67.1






 






 






1.6






 






 






 






 






195.78






 






 






1.7






 






 






 






131.33






 






 






4.2






 








Curio Collection by Hilton






68.2






 






 






2.3






 






 






 






 






241.32






 






 






2.4






 






 






 






164.67






 






 






6.0






 








Graduate by Hilton






58.7






 






 






1.9






 






 






 






 






199.55






 






 






0.5






 






 






 






117.16






 






 






3.9






 








DoubleTree by Hilton






64.7






 






 






1.5






 






 






 






 






144.46






 






 






1.8






 






 






 






93.45






 






 






4.1






 








Tapestry Collection by Hilton






63.8






 






 






3.9






 






 






 






 






180.98






 






 






2.6






 






 






 






115.53






 






 






9.2






 








Embassy Suites by Hilton






71.7






 






 






0.9






 






 






 






 






185.90






 






 






1.2






 






 






 






133.20






 






 






2.5






 








Motto by Hilton






74.2






 






 






0.9






 






 






 






 






170.76






 






 






(0.7






)






 






 






126.69






 






 






0.5






 








Hilton Garden Inn






65.3






 






 






0.8






 






 






 






 






136.54






 






 






0.9






 






 






 






89.22






 






 






2.2






 








Hampton by Hilton






66.2






 






 






0.9






 






 






 






 






123.47






 






 






1.2






 






 






 






81.75






 






 






2.6






 








Tru by Hilton






66.5






 






 






1.0






 






 






 






 






125.05






 






 






2.1






 






 






 






83.18






 






 






3.7






 








Homewood Suites by Hilton






76.1






 






 






1.2






 






 






 






 






155.11






 






 






0.8






 






 






 






117.97






 






 






2.4






 








Home2 Suites by Hilton






73.2






 






 






2.5






 






 






 






 






133.88






 






 






1.4






 






 






 






98.05






 






 






5.0






 








 






 






 






 






 






 






 






 






 






 






 






 






 








Segment






 






 






 






 






 






 






 






 






 






 






 






 








Management and franchise






67.4






%






 






1.4






%






pts.






 






$






156.69






 






 






1.5






%






 






$






105.62






 






 






3.6






%








Ownership(2)






69.8






 






 






4.4






 






 






 






 






198.97






 






 






(0.5






)






 






 






138.96






 






 






6.2






 









____________








(1)






Excludes brands for which a significant number of the hotels were designated as non-comparable hotels as of the end of the period so as to make comparative statistics for such brand not meaningful.








(2)






Includes hotels owned or leased by entities in which we own a noncontrolling financial interest.









HILTON WORLDWIDE HOLDINGS INC.




PROPERTY SUMMARY




As of March 31, 2026














 



 






Ownership(1)






 






Managed






 






Franchised / Licensed






 






Total








 






Properties






 






Rooms






 






Properties






 






Rooms






 






Properties






 






Rooms






 






Properties






 






Rooms








Waldorf Astoria Hotels & Resorts






2







 






463







 






37







 






9,244







 






—







 






—







 






39







 






9,707









Conrad Hotels & Resorts






1






 






 






164






 






 






44






 






 






14,121






 






 






5






 






 






2,779






 






 






50






 






 






17,064






 








LXR Hotels & Resorts






—






 






 






—






 






 






7






 






 






1,155






 






 






10






 






 






1,670






 






 






17






 






 






2,825






 








NoMad






—






 






 






—






 






 






1






 






 






91






 






 






—






 






 






—






 






 






1






 






 






91






 








Signia by Hilton






—






 






 






—






 






 






5






 






 






3,293






 






 






—






 






 






—






 






 






5






 






 






3,293






 








Canopy by Hilton






—






 






 






—






 






 






14






 






 






2,393






 






 






34






 






 






6,103






 






 






48






 






 






8,496






 








Hilton Hotels & Resorts






43






 






 






14,660






 






 






309






 






 






130,098






 






 






268






 






 






83,269






 






 






620






 






 






228,027






 








Curio Collection by Hilton






—






 






 






—






 






 






32






 






 






7,923






 






 






166






 






 






30,809






 






 






198






 






 






38,732






 








Graduate by Hilton






—






 






 






—






 






 






—






 






 






—






 






 






35






 






 






5,881






 






 






35






 






 






5,881






 








DoubleTree by Hilton






—






 






 






—






 






 






169






 






 






45,361






 






 






548






 






 






114,916






 






 






717






 






 






160,277






 








Tapestry Collection by Hilton






—






 






 






—






 






 






9






 






 






2,971






 






 






188






 






 






21,975






 






 






197






 






 






24,946






 








Embassy Suites by Hilton






—






 






 






—






 






 






36






 






 






9,498






 






 






233






 






 






52,613






 






 






269






 






 






62,111






 








Tempo by Hilton






—






 






 






—






 






 






1






 






 






661






 






 






6






 






 






924






 






 






7






 






 






1,585






 








Outset Collection by Hilton






—






 






 






—






 






 






—






 






 






—






 






 






2






 






 






268






 






 






2






 






 






268






 








Motto by Hilton






—






 






 






—






 






 






—






 






 






—






 






 






11






 






 






2,393






 






 






11






 






 






2,393






 








Hilton Garden Inn






—






 






 






—






 






 






133






 






 






26,166






 






 






1,010






 






 






142,629






 






 






1,143






 






 






168,795






 








Hampton by Hilton






—






 






 






—






 






 






52






 






 






8,355






 






 






3,154






 






 






353,159






 






 






3,206






 






 






361,514






 








Tru by Hilton






—






 






 






—






 






 






14






 






 






1,565






 






 






333






 






 






32,275






 






 






347






 






 






33,840






 








Spark by Hilton






—






 






 






—






 






 






—






 






 






—






 






 






242






 






 






21,423






 






 






242






 






 






21,423






 








Homewood Suites by Hilton






—






 






 






—






 






 






7






 






 






928






 






 






552






 






 






63,380






 






 






559






 






 






64,308






 








Home2 Suites by Hilton






—






 






 






—






 






 






2






 






 






210






 






 






882






 






 






97,267






 






 






884






 






 






97,477






 








LivSmart Studios by Hilton






—






 






 






—






 






 






—






 






 






—






 






 






2






 






 






226






 






 






2






 






 






226






 








Strategic partner hotels(2)






—






 






 






—






 






 






—






 






 






—






 






 






533






 






 






24,647






 






 






533






 






 






24,647






 








Other(3)






—






 






 






—






 






 






3






 






 






803






 






 






11






 






 






3,105






 






 






14






 






 






3,908






 








Total hotels






46






 






 






15,287






 






 






875






 






 






264,836






 






 






8,225






 






 






1,061,711






 






 






9,146






 






 






1,341,834






 








Hilton Grand Vacations(4)






—






 






 






—






 






 






—






 






 






—






 






 






114






 






 






20,444






 






 






114






 






 






20,444






 








Total system






46






 






 






15,287






 






 






875






 






 






264,836






 






 






8,339






 






 






1,082,155






 






 






9,260






 






 






1,362,278






 








 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








 






Ownership(1)






 






Managed






 






Franchised / Licensed






 






Total








 






Properties






 






Rooms






 






Properties






 






Rooms






 






Properties






 






Rooms






 






Properties






 






Rooms








U.S.






—






 






 






—






 






 






177






 






 






79,119






 






 






6,070






 






 






775,533






 






 






6,247






 






 






854,652






 








Americas (excluding U.S.)






1






 






 






405






 






 






68






 






 






17,940






 






 






440






 






 






56,728






 






 






509






 






 






75,073






 








Europe






37






 






 






10,662






 






 






110






 






 






26,692






 






 






773






 






 






92,717






 






 






920






 






 






130,071






 








Middle East & Africa






3






 






 






1,376






 






 






118






 






 






34,028






 






 






46






 






 






6,835






 






 






167






 






 






42,239






 








Asia Pacific






5






 






 






2,844






 






 






402






 






 






107,057






 






 






896






 






 






129,898






 






 






1,303






 






 






239,799






 








Total hotels






46






 






 






15,287






 






 






875






 






 






264,836






 






 






8,225






 






 






1,061,711






 






 






9,146






 






 






1,341,834






 








Hilton Grand Vacations(4)






—






 






 






—






 






 






—






 






 






—






 






 






114






 






 






20,444






 






 






114






 






 






20,444






 








Total system






46






 






 






15,287






 






 






875






 






 






264,836






 






 






8,339






 






 






1,082,155






 






 






9,260






 






 






1,362,278






 









____________








(1)






Includes hotels owned or leased by entities in which we own a noncontrolling financial interest.








(2)






Includes hotels that are included in our booking channels and participate in the Hilton Honors guest loyalty program through strategic partnership arrangements.








(3)






Includes other hotels in our system that are not distinguished by a specific Hilton brand.








(4)






Includes properties under our timeshare brands including Hilton Club, Hilton Grand Vacations Club and Hilton Vacation Club.









HILTON WORLDWIDE HOLDINGS INC.




CAPITAL EXPENDITURES AND CONTRACT ACQUISITION COSTS




(dollars in millions)




(unaudited)










 



 






Three Months Ended






 






 








 






March 31,






 






Increase / (Decrease)








 






2026






 






2025






 






$






 






%








Capital expenditures for property and equipment(1)






$






9







 






$






19







 






(10






)






 






(52.6






)








Capitalized software costs(2)






 






22






 






 






 






21






 






 






1






 






 






4.8






 








Total capital expenditures






 






31






 






 






 






40






 






 






(9






)






 






(22.5






)








Contract acquisition costs, net of refunds






 






26






 






 






 






30






 






 






(4






)






 






(13.3






)








Total capital expenditures and contract acquisition costs






$






57






 






 






$






70






 






 






(13






)






 






(18.6






)









____________








(1)






Represents expenditures for hotels, corporate and other property and equipment, which include amounts reimbursed by third parties of $6 million and $12 million for the three months ended March 31, 2026 and 2025, respectively. Excludes expenditures for FF&E replacement reserves of $10 million and $13 million for the three months ended March 31, 2026 and 2025, respectively.








(2)






Includes $20 million of expenditures that were reimbursed to us by third parties for both the three months ended March 31, 2026 and 2025.









HILTON WORLDWIDE HOLDINGS INC.




RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES




NET INCOME AND DILUTED EPS, ADJUSTED FOR SPECIAL ITEMS




(in millions, except per share data)




(unaudited)








 



 






Three Months Ended








 






March 31,








 






2026






 






2025








Net income attributable to Hilton stockholders, as reported






$






385






 






 






$






300






 








Diluted EPS, as reported






$






1.66






 






 






$






1.23






 








Special items:






 






 






 








Cost reimbursement revenues(1)






$






(1,755






)






 






$






(1,630






)








Reimbursed expenses(1)






 






1,849






 






 






 






1,759






 








FF&E replacement reserves






 






10






 






 






 






13






 








Tax-related adjustments(2)






 






2






 






 






 






2






 








Other adjustments(3)






 






1






 






 






 






10






 








Total special items before taxes






 






107






 






 






 






154






 








Income tax expense on special items






 






(26






)






 






 






(36






)








Total special items after taxes






$






81






 






 






$






118






 








 






 






 






 








Net income, adjusted for special items






$






466






 






 






$






418






 








Diluted EPS, adjusted for special items






$






2.01






 






 






$






1.72






 









____________








(1)






Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures.








(2)






Amount includes income tax expenses (benefits) related to the enactment of new tax laws and certain changes in unrecognized tax expenses (benefits).








(3)






Amount for the three months ended March 31, 2025 includes restructuring costs related to one of our leased hotels, which were recognized in ownership expenses. Amounts for both periods include losses (gains) related to severance and other items, including non-cash charges, such as net losses (gains) related to certain of our investments in unconsolidated affiliates, which were recognized in other non-operating income, net and the amortization expense related to finite-lived intangible assets that were recorded at fair value in 2007 when the Company became a wholly owned subsidiary of affiliates of Blackstone Inc., which was recognized in depreciation and amortization expenses.









HILTON WORLDWIDE HOLDINGS INC.




RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES




NET INCOME MARGIN AND




ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN




(dollars in millions)




(unaudited)








 



 






Three Months Ended








 






March 31,








 






2026






 






2025








Net income






$






383






 






 






$






300






 








Interest expense






 






162






 






 






 






145






 








Income tax expense






 






135






 






 






 






110






 








Depreciation and amortization expenses






 






50






 






 






 






41






 








Loss (gain) on foreign currency transactions






 






5






 






 






 






(2






)








FF&E replacement reserves






 






10






 






 






 






13






 








Share-based compensation expense






 






45






 






 






 






36






 








Amortization of contract acquisition costs






 






15






 






 






 






14






 








Cost reimbursement revenues(1)






 






(1,755






)






 






 






(1,630






)








Reimbursed expenses(1)






 






1,849






 






 






 






1,759






 








Other adjustments(2)






 






2






 






 






 






9






 








Adjusted EBITDA






$






901






 






 






$






795






 









____________








(1)






Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures.








(2)






Amount for the three months ended March 31, 2025 includes restructuring costs related to one of our leased hotels. Amounts for both periods include losses (gains) related to severance and other items, including non-cash charges, such as net losses (gains) related to certain of our investments in unconsolidated affiliates.









 






Three Months Ended








 






March 31,








 






2026






 






2025








Total revenues, as reported






$






2,937






 






 






$






2,695






 








Add: amortization of contract acquisition costs






 






15






 






 






 






14






 








Less: cost reimbursement revenues(1)






 






(1,755






)






 






 






(1,630






)








Total revenues, as adjusted






$






1,197






 






 






$






1,079






 








 






 






 






 








Net income






$






383






 






 






$






300






 








Net income margin






 






13.0






%






 






 






11.1






%








 






 






 






 








Adjusted EBITDA






$






901






 






 






$






795






 








Adjusted EBITDA margin






 






75.3






%






 






 






73.7






%









____________








(1)






Amounts include revenues from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures.









HILTON WORLDWIDE HOLDINGS INC.




RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES




LONG-TERM DEBT TO NET INCOME RATIO AND




NET DEBT AND NET DEBT TO ADJUSTED EBITDA RATIO




(dollars in millions)




(unaudited)










 



 






March 31,






 






December 31,








 






2026






 






2025








Long-term debt, including current maturities






$






12,359






 






 






$






12,363






 








Add: unamortized deferred financing costs and discount






 






92






 






 






 






96






 








Long-term debt, including current maturities and excluding the deduction for unamortized deferred financing costs and discount






 






12,451






 






 






 






12,459






 








Less: cash and cash equivalents






 






(564






)






 






 






(918






)








Less: restricted cash and cash equivalents






 






(55






)






 






 






(52






)








Net debt






$






11,832






 






 






$






11,489






 









 






Three Months Ended






 






Year Ended






 






TTM Ended








 






March 31,






 






December 31,






 






March 31,








 






2026






 






2025






 






2025






 






2026








Net income






$






383






 






 






$






300






 






 






$






1,461






 






 






$






1,544






 








Interest expense






 






162






 






 






 






145






 






 






 






620






 






 






 






637






 








Income tax expense






 






135






 






 






 






110






 






 






 






611






 






 






 






636






 








Depreciation and amortization expenses






 






50






 






 






 






41






 






 






 






177






 






 






 






186






 








Loss (gain) on foreign currency transactions






 






5






 






 






 






(2






)






 






 






11






 






 






 






18






 








FF&E replacement reserves






 






10






 






 






 






13






 






 






 






73






 






 






 






70






 








Share-based compensation expense






 






45






 






 






 






36






 






 






 






170






 






 






 






179






 








Amortization of contract acquisition costs






 






15






 






 






 






14






 






 






 






57






 






 






 






58






 








Cost reimbursement revenues(1)






 






(1,755






)






 






 






(1,630






)






 






 






(7,085






)






 






 






(7,210






)








Reimbursed expenses(1)






 






1,849






 






 






 






1,759






 






 






 






7,550






 






 






 






7,640






 








Other adjustments(2)






 






2






 






 






 






9






 






 






 






80






 






 






 






73






 








Adjusted EBITDA






$






901






 






 






$






795






 






 






$






3,725






 






 






$






3,831






 








 






 






 






 






 






 






 






 








Long-term debt






 






 






 






 






 






 






$






12,359






 








Long-term debt to net income ratio






 






 






 






 






 






 






 






8.0






 








 






 






 






 






 






 






 






 








Net debt






 






 






 






 






 






 






$






11,832






 








Net debt to Adjusted EBITDA ratio






 






 






 






 






 






 






 






3.1






 









____________








(1)






Amounts include results from the operation of programs conducted for the benefit of property owners and exclude cash receipts recorded as deferred revenues on our condensed consolidated balance sheets related to these programs. Under the terms of the related contracts, we do not operate these programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures.








(2)






Amounts for the three months ended March 31, 2025 and year ended December 31, 2025 include restructuring costs related to one of our leased hotels. Amount for the year ended December 31, 2025 also includes expected future credit losses on financing receivables and losses for the partial settlement of one of our pension plans. Amounts for all periods include losses (gains) related to severance and other items, including non-cash charges, such as net losses (gains) related to certain of our investments in unconsolidated affiliates.









HILTON WORLDWIDE HOLDINGS INC.




RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES




OUTLOOK: NET INCOME AND DILUTED EPS, ADJUSTED FOR SPECIAL ITEMS




(in millions, except per share data)




(unaudited)








 



 






Three Months Ending








 






June 30, 2026








 






Low Case






 






High Case








Net income attributable to Hilton stockholders






$






491






 






 






$






505






 








Diluted EPS(1)






$






2.13






 






 






$






2.19






 








Special items(2):






 






 






 








FF&E replacement reserves






$






14






 






 






$






14






 








Other adjustments






 






1






 






 






 






1






 








Total special items before taxes






 






15






 






 






 






15






 








Income tax expense on special items






 






(3






)






 






 






(3






)








Total special items after taxes






$






12






 






 






$






12






 








 






 






 






 








Net income, adjusted for special items






$






503






 






 






$






517






 








Diluted EPS, adjusted for special items(1)






$






2.18






 






 






$






2.24






 









 






Year Ending








 






December 31, 2026








 






Low Case






 






High Case








Net income attributable to Hilton stockholders






$






1,909






 






 






$






1,937






 








Diluted EPS(1)






$






8.28






 






 






$






8.40






 








Special items(2):






 






 






 








Cost reimbursement revenues






$






(1,755






)






 






$






(1,755






)








Reimbursed expenses






 






1,849






 






 






 






1,849






 








FF&E replacement reserves






 






56






 






 






 






56






 








Tax related adjustments






 






2






 






 






 






2






 








Other adjustments






 






4






 






 






 






4






 








Total special items before taxes






 






156






 






 






 






156






 








Income tax expense on special items






 






(37






)






 






 






(37






)








Total special items after taxes






$






119






 






 






$






119






 








 






 






 






 








Net income, adjusted for special items






$






2,028






 






 






$






2,056






 








Diluted EPS, adjusted for special items(1)






$






8.79






 






 






$






8.91






 









____________








(1)






Does not include the effect of share repurchases made after March 31, 2026.








(2)






See "—Net Income and Diluted EPS, Adjusted for Special Items" for details of these special items.









HILTON WORLDWIDE HOLDINGS INC.




RECONCILIATIONS OF NON-GAAP FINANCIAL MEASURES




OUTLOOK: NET INCOME AND ADJUSTED EBITDA




(in millions)




(unaudited)








 



 






Three Months Ending








 






June 30, 2026








 






Low Case






 






High Case








Net income






$






491







 






$






505









Interest expense






 






179






 






 






 






179






 








Income tax expense






 






205






 






 






 






211






 








Depreciation and amortization expenses






 






50






 






 






 






50






 








FF&E replacement reserves






 






14






 






 






 






14






 








Share-based compensation expense






 






59






 






 






 






59






 








Amortization of contract acquisition costs






 






16






 






 






 






16






 








Other adjustments(1)






 






1






 






 






 






1






 








Adjusted EBITDA






$






1,015






 






 






$






1,035






 









 






Year Ending








 






December 31, 2026








 






Low Case






 






High Case








Net income






$






1,909






 






 






$






1,937






 








Interest expense






 






723






 






 






 






723






 








Income tax expense






 






769






 






 






 






781






 








Depreciation and amortization expenses






 






203






 






 






 






203






 








Loss on foreign currency transactions






 






5






 






 






 






5






 








FF&E replacement reserves






 






56






 






 






 






56






 








Share-based compensation expense






 






191






 






 






 






191






 








Amortization of contract acquisition costs






 






64






 






 






 






64






 








Cost reimbursement revenues






 






(1,755






)






 






 






(1,755






)








Reimbursed expenses






 






1,849






 






 






 






1,849






 








Other adjustments(1)






 






6






 






 






 






6






 








Adjusted EBITDA






$






4,020






 






 






$






4,060






 









____________








(1)






See "—Net Income Margin and Adjusted EBITDA and Adjusted EBITDA Margin" for details of these adjustments.







HILTON WORLDWIDE HOLDINGS INC.

DEFINITIONS


Trailing Twelve Month Financial Information


This press release includes certain unaudited financial information for the trailing twelve months ("TTM") ended March 31, 2026, which is calculated as the three months ended March 31, 2026 plus the year ended December 31, 2025 less the three months ended March 31, 2025. This presentation is not in accordance with GAAP. However, we believe that this presentation provides useful information to investors regarding our recent financial performance, and we view this presentation of the four most recently completed fiscal quarters as a key measurement period for investors to assess our historical results. In addition, our management uses TTM information to evaluate our financial performance for ongoing planning purposes.


Net Income (Loss), Adjusted for Special Items, and Diluted EPS, Adjusted for Special Items


Net income (loss), adjusted for special items is calculated as net income (loss) attributable to Hilton stockholders, as reported, plus total special items after taxes. Net income (loss), adjusted for special items, and diluted earnings (loss) per share ("EPS"), adjusted for special items, are not recognized terms under GAAP and should not be considered as alternatives to net income (loss), diluted EPS or other measures of financial performance or liquidity derived in accordance with GAAP. In addition, our definition of net income (loss), adjusted for special items, and diluted EPS, adjusted for special items, may not be comparable to similarly titled measures of other companies.


Net income (loss), adjusted for special items, and diluted EPS, adjusted for special items, are included to assist investors in performing meaningful comparisons of past, present and future operating results and as a means of highlighting the results of our ongoing operations.


Adjusted EBITDA, Net Income (Loss) Margin and Adjusted EBITDA Margin


Adjusted EBITDA is calculated as net income (loss), excluding interest expense, a provision for income tax benefit (expense) and depreciation and amortization expenses, as well as gains, losses, revenues and expenses earned or incurred in connection with: (i) asset dispositions for both consolidated and unconsolidated investments; (ii) foreign currency transactions; (iii) debt restructurings and retirements; (iv) furniture, fixtures and equipment ("FF&E") replacement reserves required under certain lease agreements; (v) share-based compensation; (vi) reorganization, severance, relocation and other expenses; (vii) non-cash impairment; (viii) amortization of contract acquisition costs; (ix) cost reimbursement revenues and reimbursed expenses; and (x) other items.


Net income (loss) margin represents net income (loss) as a percentage of total revenues. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of total revenues, adjusted to exclude the amortization of contract acquisition costs and cost reimbursement revenues.


We believe that Adjusted EBITDA and Adjusted EBITDA margin provide useful information to investors about us and our financial condition and results of operations for the following reasons: (i) these measures are used by our management team to evaluate our operating performance and make day-to-day operating decisions and (ii) these measures are frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry. Additionally, these measures exclude certain items that can vary widely across different industries and among competitors within our industry. For instance, interest expense and income taxes are dependent on company specifics, including, among other things, capital structure and operating jurisdictions, respectively, and, therefore, could vary significantly across companies. Depreciation and amortization expenses, as well as amortization of contract acquisition costs, are dependent upon company policies, including the method of acquiring and depreciating assets and the useful lives that are assigned to those depreciating or amortizing assets for accounting purposes. We also exclude items such as: (i) FF&E replacement reserves for leased hotels to be consistent with the treatment of capital expenditures for property and equipment, where depreciation of such capitalized assets is reported within depreciation and amortization expenses; (ii) share-based compensation, as this could vary widely among companies due to the different plans in place and the usage of them; and (iii) other items that are not reflective of our operating performance, such as amounts related to debt restructurings and debt retirements and reorganization and related severance costs, to enhance period-over-period comparisons of our ongoing operations. Further, Adjusted EBITDA excludes both cost reimbursement revenues and reimbursed expenses as we contractually do not operate the related programs to generate a profit and have contractual rights to adjust future collections to recover prior period expenditures. The direct reimbursements from property owners are billable and reimbursable as the costs are incurred and have no net effect on net income (loss) in the reporting period. The indirect reimbursements from property owners are typically billed and collected monthly, based on the underlying hotel's sales or usage (e.g., gross room revenue or number of reservations processed), while the associated costs are recognized as incurred by Hilton, creating timing differences, with the net effect impacting net income (loss) in the reporting period. These timing differences are due to our discretion to spend in excess of revenues earned or less than revenues earned in a single period to ensure that the programs are operated in the best long-term interests of our property owners. However, over the life of the operation of these programs, the expenses incurred related to the indirect reimbursements are designed to equal the revenues earned from the indirect reimbursements over time such that, in the long term, the programs will not earn a profit or generate a loss and do not impact our economics, either positively or negatively. Therefore, the net effect of our reimbursed revenues and expenses is not used by management to evaluate our operating performance, determine executive compensation or make other operating decisions, and we exclude their impact when evaluating period over period performance results.


Adjusted EBITDA and Adjusted EBITDA margin are not recognized terms under GAAP and should not be considered as alternatives, either in isolation or as a substitute, for net income (loss), net income (loss) margin or other measures of financial performance or liquidity, including cash flows, derived in accordance with GAAP. Further, Adjusted EBITDA and Adjusted EBITDA margin have limitations as analytical tools, may not be comparable to similarly titled measures of other companies and should not be considered as other methods of analyzing our results as reported under GAAP.


Net Debt, Long-Term Debt to Net Income (Loss) Ratio and Net Debt to Adjusted EBITDA Ratio


Long-term debt to net income (loss) ratio is calculated as the ratio of Hilton's long-term debt, including current maturities, to net income (loss). Net debt is calculated as: long-term debt, including current maturities and excluding the deduction for unamortized deferred financing costs and discounts; reduced by: (i) cash and cash equivalents and (ii) restricted cash and cash equivalents. Net debt to Adjusted EBITDA ratio is calculated as the ratio of Hilton's net debt to Adjusted EBITDA. Net debt and net debt to Adjusted EBITDA ratio, presented herein, are non-GAAP financial measures that the Company uses to evaluate its financial leverage.


Net debt should not be considered as a substitute to debt presented in accordance with GAAP, and net debt to Adjusted EBITDA ratio should not be considered as an alternative to measures of financial condition derived in accordance with GAAP. Net debt and net debt to Adjusted EBITDA ratio may not be comparable to similarly titled measures of other companies. We believe net debt and net debt to Adjusted EBITDA ratio provide useful information about our indebtedness to investors as they are frequently used by securities analysts, investors and other interested parties to compare the indebtedness between companies.


Comparable Hotels


We define our comparable hotels as those that were active and operating in our system for at least one full calendar year and were open January 1st of the previous year. We exclude hotels that have undergone a change in brand or ownership type or a large-scale capital project during the current or comparable periods or otherwise do not have available comparable results, such as those that have sustained substantial property damage or encountered business interruption. We exclude strategic partner hotels from our comparable hotels. Of the 9,146 hotels in our system as of March 31, 2026, 533 hotels were strategic partner hotels and 6,966 hotels were classified as comparable hotels. Our 1,647 non-comparable hotels as of March 31, 2026 included (i) 814 hotels that were added to our system after January 1, 2025 or that have undergone a change in brand or ownership type during the current or comparable periods reported and (ii) 833 hotels that were removed from the comparable group for the current or comparable periods reported because they underwent or are undergoing large-scale capital projects, sustained substantial property damage, encountered business interruption or comparable results were otherwise not available for them.


Occupancy


Occupancy represents the total number of room nights sold divided by the total number of room nights available at a hotel or group of hotels for a given period. Occupancy measures the utilization of available capacity at a hotel or group of hotels. Management uses occupancy to gauge demand at a specific hotel or group of hotels in a given period. Occupancy levels also help management determine achievable Average Daily Rate ("ADR") pricing levels as demand for hotel rooms increases or decreases.


ADR


ADR represents hotel room revenue divided by the total number of room nights sold for a given period. ADR measures the average room price attained by a hotel, and ADR trends provide useful information concerning the pricing environment and the nature of the customer base of a hotel or group of hotels. ADR is a commonly used performance measure in the industry, and we use ADR to assess pricing levels that we are able to generate by type of customer, as changes in rates charged to customers have different effects on overall revenues and incremental profitability than changes in occupancy, as described above.


Revenue per Available Room ("RevPAR")


RevPAR is calculated by dividing hotel room revenue by the total number of room nights available to guests for a given period. We consider RevPAR to be a meaningful indicator of our performance as it provides a metric correlated to two primary and key drivers of operations at a hotel or group of hotels, as previously described: occupancy and ADR. RevPAR is also a useful indicator in measuring performance over comparable periods for comparable hotels.


References to occupancy, ADR and RevPAR are presented on a comparable basis, based on the comparable hotels as of March 31, 2026, and references to ADR and RevPAR are presented on a currency neutral basis, unless otherwise noted. As such, comparisons of these hotel operating statistics for the three months ended March 31, 2026 and 2025 use foreign currency exchange rates for the three months ended March 31, 2026.


Pipeline


Rooms under construction include rooms for hotels under construction or operating hotels that are in the process of conversion to our system.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428679863/en/
Investor Contact

Charlie Ruehr

+1 703 883 1000


Media Contact

Kent Landers

+1 703 883 3246


Original: Hilton Reports First Quarter Results; Raises Full Year Outlook