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Hilton Worldwide Holdings Inc. is a leading global hospitality company with a diverse portfolio of 24 world-class brands, operating over 8,300 properties and more than 1.25 million rooms across 138 countries and territories . The company primarily engages in managing and franchising hotels, as well as owning and leasing hotel properties. Hilton generates revenue through management and franchise fees, licensing fees, and sales from its owned and leased hotels . The company is focused on expanding its global hotel network and enhancing guest experiences through technology and its loyalty program, Hilton Honors, which boasts over 200 million members .
- Management and Franchise - Manages hotels for third-party owners and licenses Hilton's intellectual property to franchised hotels, generating revenue from management and franchise fees, as well as licensing fees from strategic partners .
- Ownership - Operates consolidated owned and leased hotels, deriving revenue from nightly hotel room sales, food and beverage sales, and other services .
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christopher J. Nassetta ExecutiveBoard | President and CEO | Advisory Board Member at McIntire School of Commerce (UVA); Board Member at CoStar Group; Chair of U.S. Travel Association; Member of Economic Club of Washington and Federal City Council. | Joined Hilton in 2007 as President and CEO. Previously CEO of Host Hotels and Resorts. Extensive experience in hospitality and real estate. | View Report → |
Anne-Marie W. D'Angelo Executive | EVP, General Counsel, and Secretary | Advisory Council Member for PODER25; Member of Hispanic National Bar Association. | Joined Hilton in 2023. Former Chief Legal Officer at Molson Coors and General Counsel at NiSource. | View Report → |
Christopher W. Silcock Executive | President, Global Brand and Commercial Services | Board Member at Groups360. | Nearly 30 years at Hilton. Former EVP and Chief Commercial Officer. Leads Hilton's brand and commercial strategies. | View Report → |
Kevin J. Jacobs Executive | CFO and President, Global Development | Board Member at Omega Healthcare Investors; Trustee at Cornell University; Vice Chair and Treasurer of Goodwill of Greater Washington; Trustee of Federal City Council; Board Chair of AHLA. | Joined Hilton in 2008. Held various roles, including Chief of Staff and Treasurer. Became CFO in 2013 and added Global Development responsibilities in 2020. | View Report → |
Laura A. Fuentes Executive | EVP and Chief Human Resources Officer | Board Member at Chipotle Mexican Grill; Advisory Board Member at McIntire School of Commerce (UVA); Vice Chair of Make-a-Wish Mid-Atlantic. | Joined Hilton in 2013. Appointed CHRO in 2020. Leads HR functions, including diversity and leadership development. | |
Misha Moylan Executive | SVP, Chief Accounting Officer | None. | Joined Hilton in 2010. Former SVP of Internal Audit and Enterprise Risk Management. Appointed Chief Accounting Officer in 2025. | |
Charlene T. Begley Board | Director | Director at Nasdaq, Inc. and SentinelOne, Inc.. | Director since 2017. Former GE executive with expertise in technology, finance, and information security. | |
Chris Carr Board | Director | Board Member at REI; Trustee at Howard University and University of San Diego. | Director since 2020. Former COO of Sweetgreen and EVP at Starbucks, with expertise in supply chain, strategy, and consumer marketing. | |
Douglas M. Steenland Board | Director | Board Member at American Airlines Group and London Stock Exchange Group. | Director since 2009. Former CEO of Northwest Airlines with extensive experience in managing large, complex organizations. | |
Elizabeth A. Smith Board | Director | Executive Chair of Revlon; Board Member at Brown-Forman Corporation and U.S. Fund for UNICEF. | Director since 2013. Former CEO of Bloomin' Brands and President of Avon Products. | |
Jonathan D. Gray Board | Chairman of the Board | President and COO of Blackstone Inc.; Board Member at Corebridge Financial and Harlem Village Academies; Founder of Basser Research Center and NYC Kids RISE. | Director since 2007. Extensive experience in real estate investing and financial management. President and COO of Blackstone. | |
Judith A. McHale Board | Director | President and CEO of Cane Investments; Director at Paramount Global. | Director since 2013. Former Under Secretary of State and CEO of Discovery Communications. | |
Melanie L. Healey Board | Director | Director at PPG Industries, Verizon Communications (term ending 2024), and Kenvue Inc.. | Director since 2017. Former Group President at Procter & Gamble with over 30 years of experience in consumer goods. | |
Raymond E. Mabus, Jr. Board | Director | CEO of The Mabus Group; Vice-Chair of InStride; Chair of Virgin Galactic Holdings; Board Member at Amentum Services, World Central Kitchen, and Environmental Defense Fund. | Director since 2017. Former U.S. Secretary of the Navy, U.S. Ambassador to Saudi Arabia, and Governor of Mississippi. |
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Given that RevPAR growth came in below your guidance due to softer ramp in September and ongoing macro uncertainties, how confident are you in achieving your 2025 EBITDA target without exceeding the 1%-2% RevPAR growth range many in the industry are forecasting?
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You mentioned that conversions accounted for a significant portion of your net unit growth; can you elaborate on the sustainability of this trend and how you plan to maintain such high levels of conversions in the face of increasing competition?
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With over 80% of your pipeline under construction being outside the U.S., particularly in markets like China that have faced economic slowdowns and real estate issues, what risks do you see to your net unit growth targets if these markets don't recover as expected?
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As you expand aggressively internationally, how are you adapting your brands to different markets, and what challenges have you faced in maintaining brand standards and performance across diverse regions?
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Regarding your recent tuck-in brand acquisitions like Graduate Hotels and the partnership with Small Luxury Hotels of the World, can you quantify the initial impact on earnings and discuss how these investments align with your ROI targets compared to developing brands internally?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Graduate Hotels | 2024 | Hilton completed the acquisition in May 2024 for a total of $210 million, with $200 million paid in cash upon closing and $10 million contingent. The deal added 32 existing properties (plus about 35 in the pipeline) in the U.S. and U.K., and involved the recognition of intangible assets of approximately $122 million (brand) and $91 million (franchise contracts) to expand into university-anchored lifestyle markets. |
Sydell Group (NoMad brand) | 2024 | Hilton acquired a controlling financial interest in the Sydell Group in April 2024 through a business combination, recognizing intangible assets including a $45 million indefinite-lived brand asset and $11 million in management contract intangibles, along with redeemable noncontrolling interests of $22 million. This acquisition marked Hilton’s entry into the luxury lifestyle sector and was structured with put and call options as notable terms. |
Recent press releases and 8-K filings for HLT.
- Q1 2025 Financial Highlights: Hilton delivered strong results with adjusted EBITDA of $795M (up 6% YoY), diluted EPS of $1.23, adjusted EPS of $1.72, and net income of $300M .
- Achieved 2.5% system-wide RevPAR growth in Q1 .
- Expanded its portfolio by opening 186 hotels (over 20,000 rooms), approving 32,600 new rooms, and adding 20,100 rooms to drive 7.2% net unit growth .
- Returned $927M to shareholders by repurchasing 3.7M shares through buybacks and dividends .
- Provided guidance with Q2 expectations of flat YoY system-wide RevPAR, adjusted EBITDA between $940M and $960M, and diluted EPS of $1.97 to $2.02; full-year outlook projects RevPAR flat to +2%, net income between $1,707M and $1,749M, and adjusted EBITDA between $3,650M and $3,710M .