Hilton Raises 2022 Earnings Guidance After Better Than Expected Q3 | Photo credit: Hilton
Oct 26 (Reuters) – Hilton Worldwide Holdings raised its full-year profit forecast on Wednesday after third-quarter results beat estimates, helped by a rebound in U.S. travel and a strong dollar.
“We expect these strong trends to continue through the fourth quarter, with system-wide RevPAR (revenue per available room) once again exceeding previous peaks,” said Christopher Nassetta, Director General of Hilton.
Hilton, which owns several brands including the Waldorf Astoria Hotels & Resorts, said it now expects net profit of between $1.22 billion and $1.24 billion this year, down from a previous forecast of between $1.15 billion. billion and $1.22 billion.
The Virginia-based company posted earnings of $1.31 per share, up 44%, while analysts polled by Refinitiv had expected $1.24 per share.
On an adjusted basis, the company expects earnings between $4.46 and $4.54 per share for 2022, above analysts’ expectations of $4.21-4.46, thanks to strong pricing power in a resilient travel demand environment. (Report Kannaki Dekam, French version Lina Golovnya, edited by Kate Entringer)