Hilton Worldwide Holdings Inc. (HLT), a leading global hospitality company with a portfolio of 14 world-class brands comprising more than 5,000 properties with over 825,000 rooms in 103 countries and territories reported exceptional second quarter fiscal results.
The company’s portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations.
Second Quarter 2017 vs. Second Quarter 2016 Actual Results
Diluted EPS from continuing operations: UP 75.9% to $0.51.
Income from continuing operations, net of taxes: UP 67% to $167 million.
Adjusted EBITDA: UP 26% to $519 million.
Comparable RevPAR: UP 1.8%
Net Room Growth: UP 30% to 13,400 net rooms.
New rooms for development: UP 15% from the same period a year ago.
Second Quarter Balance Sheet and Liquidity
Long-term debt outstanding of $6.7 billion, excluding deferred financing costs and discount, with a weighted average interest rate of 4.1 percent.
Total cash and cash equivalents of $909 million including $125 million of restricted cash and cash equivalents.
No borrowings were outstanding under the $1.0 billion revolving credit facility.
Repurchased 4.5 million shares of common stock at a cost of approximately $282 million at an average price per share of $63.31. Since repurchases began in March 2017 through July 2017, Hilton has repurchased 6.8 million shares for approximately $425 million.
Paid a quarterly cash dividend of $0.15 per share on shares of its common stock, for a total of $49 million. In July 2017, Hilton’s board of directors authorized a regular quarterly cash dividend of $0.15 per share of common stock to be paid on or before September 29, 2017 to holders of record of its common stock as of the close of business on August 18, 2017.
