Hilton Worldwide Holdings (HLT) Company Report

6.7% net unit growth, adding nearly 800 hotels and 100,000 rooms, and closing the year with a record 520,000 rooms under development.
Signed over 1,000 new hotels (~140,000 rooms) and now has more than 3,700 hotels in its development pipeline.
Launched two new brands—Apartment Collection and Outset Collection—and expanded luxury and lifestyle offerings, surpassing 9,000 operating hotels across 143 countries.
Broke its record with nearly 100,000 rooms started in 2025 and anticipates 6–7% net unit growth in 2026.

Jan 26, 2026, 1:00 PM

Press Release

Hilton introduces Apartment Collection by Hilton

HLT

Product Launch

Hilton introduces Apartment Collection by Hilton, a new lodging category offering studio to four-bedroom furnished apartments through an initial partnership with Placemakr, launching in H1 2026 in U.S. markets such as New York City, Washington, D.C. and Atlanta.
The company currently manages ~10,000 apartment-style units globally and expects to add up to 3,000 units via the Placemakr partnership, with further growth through additional franchise agreements in the multi-family segment.
Each property features chef-ready kitchens, separate living areas, on-site laundry and 24/7 on-site support, all integrated into Hilton’s booking platform and Hilton Honors loyalty program (over 235 million members).
The partnership leverages Placemakr’s decade of furnished apartment expertise and Hilton’s trusted brand standards to meet growing demand for flexible and extended-stay accommodations.

Jan 15, 2026, 12:02 PM

Press Release

Hilton Worldwide issues $1 billion 5.500% Senior Notes due 2034

HLT

Debt Issuance

$1 billion aggregate principal of 5.500% Senior Notes due March 31, 2034 issued at par; interest payable semi-annually on June 1 and December 1, beginning June 1, 2026.
Net proceeds will redeem all $500 million of 5.750% Senior Notes due 2028 and fund general corporate purposes.
Notes rank as senior unsecured obligations, equally with existing senior debt and are guaranteed by Hilton Domestic Operating Company’s parent entities and subsidiaries.
Redemption at issuer’s option: make-whole premium before December 1, 2028; thereafter at declining premiums of 102.750%, 101.375% and 100.000% through 2030; holders may require repurchase at 101% upon change of control.

Dec 11, 2025, 9:05 PM

8-K

Hilton announces $1B senior notes offering

HLT

Debt Issuance

Hilton Domestic Operating Company Inc. agreed to issue $1 billion of 5.500% Senior Notes due 2034 in a private Rule 144A/Reg S offering, expected to close December 10, 2025.
Notes will be issued at 100% of par, pay interest semi-annually on June 1 and December 1 (first payment June 1, 2026), and mature March 31, 2034.
Net proceeds will redeem $500 million of existing 5.750% Senior Notes due 2028, cover related fees, with remaining funds for general corporate purposes.
Press releases announcing the launch and pricing of the offering are attached as Exhibits 99.1 and 99.2 to the 8-K.

Dec 2, 2025, 9:07 PM

8-K

Hilton reports Q3 2025 results

HLT

Earnings

Guidance Update

Share Buyback

Systemwide RevPAR decreased 1.1% in Q3 on a comparable basis, with U.S. RevPAR down 2.3%; full-year RevPAR now expected to be flat to +1%.
Adjusted EBITDA rose 8% to $976 million and adjusted EPS was $2.11, both exceeding guidance.
Net unit growth of 6.5% with 199 hotel openings (~24,000 rooms) in Q3; pipeline at 515,000 rooms (~50% under construction) and full-year growth targeted at 6.5%–7%.
Returned $3.3 billion to shareholders year-to-date via buybacks and dividends; Q3 dividend $0.15/share and Q4 dividend $0.05/share declared.
Conversions accounted for ~40% of 2025 openings; global new development starts up ~20% year-over-year, still below 2019 levels, indicating runway for growth.

Oct 22, 2025, 1:00 PM

Transcript

Hilton announces Q3 2025 results

HLT

Earnings

Guidance Update

Share Buyback

System-wide RevPAR decreased 1.1% year-over-year in Q3 2025; full-year RevPAR now expected to be flat to up 1%.
Adjusted EBITDA of $976 million (up 8% y/y) and adjusted EPS of $2.11, both exceeding the high end of guidance.
Net unit growth of 6.5% with 199 hotel openings (over 24,000 rooms); development pipeline exceeds 515,000 rooms.
Launched Outset Collection by Hilton, the 25th brand with 60 hotels in development and potential for 500 North American properties.
Expect >50% free cash flow conversion for the year and plan to return $3.3 billion via buybacks and dividends (Q3 dividend of $0.15 per share).

Oct 22, 2025, 1:00 PM

Transcript

Hilton reports stronger Q3, lowers 2025 RevPAR forecast

HLT

Earnings

Guidance Update

Demand Weakening

Hilton posted $420 million in Q3 net income (EPS $1.78), up from $344 million (EPS $1.38) a year earlier.
Adjusted EPS of $2.11 topped expectations of $2.06, as revenue rose 8.8% to $3.12 billion.
The company cut its FY2025 RevPAR growth forecast to up to 1% from up to 2%, citing softer U.S. travel demand.
Raised FY2025 adjusted EPS guidance to $7.97–$8.06, while trimming GAAP EPS guidance to $6.71–$6.80.
Hilton projects Q4 RevPAR growth of 1.0%, adjusted EBITDA of $906 million–$936 million, and GAAP EPS of $1.87–$1.96.

Oct 22, 2025, 10:49 AM

Morningstar

Hilton announces Q3 2025 earnings

HLT

Earnings

Guidance Update

Share Buyback

Diluted EPS of $1.78 and Adjusted EBITDA of $976 million, with net income of $421 million in Q3 2025.
System-wide comparable RevPAR declined 1.1% year-over-year in Q3 2025.
Returned $792 million in capital in Q3 2025, including repurchase of 2.8 million shares; year-to-date capital return of $2.671 billion through October 2025.
Full-year 2025 guidance: RevPAR flat to +1%, net income of $1.604–$1.625 billion, Adjusted EBITDA of $3.685–$3.715 billion, and capital return of ~$3.3 billion.

Oct 22, 2025, 10:01 AM

8-K

Hilton reports Q3 2025 results

HLT

Earnings

Share Buyback

Guidance Update

Hilton delivered diluted EPS of $1.78, net income of $421 million and adjusted EBITDA of $976 million for Q3 2025.
System-wide comparable RevPAR declined 1.1% on a currency-neutral basis versus Q3 2024.
Approved 33,000 new rooms, bringing the development pipeline to 515,400 rooms as of September 30, 2025, up 5% year-over-year.
Repurchased 2.8 million shares in the quarter, returning $792 million of capital (with $2.671 billion YTD through October).
Maintained FY 2025 guidance for flat to +1.0% RevPAR growth, net income of $1.604–$1.625 billion, adjusted EBITDA of $3.685–$3.715 billion, and ~$3.3 billion in capital return.

Oct 22, 2025, 10:00 AM

Press Release

Access Point Financial purchases $98 M of Atrium Hotels refinancing

HLT

Debt Issuance

New Projects/Investments

APF purchased $98 million of the H and JRR risk retention bond classes, representing the most subordinate 15% tranche of the $653 million Atrium Hotels refinancing.
This marks APF’s second transaction with Atrium, following a $133.1 million bond purchase in a prior GS-led offering.
The refinancing covers a 15-hotel portfolio (3,892 total keys) across 12 states, including eight Embassy Suites by Hilton, one Hilton, one Renaissance, one Sheraton, two Residence Inns by Marriott, and two Courtyard by Marriott properties.
Atrium Holding Company plans to invest approximately $68 million in property renovations.
APF recently refinanced $1.1 billion of floating-rate mortgage loans with ATLAS SP Partners, enhancing its capital deployment capacity.