On February 7, 2025, Hilton Group released its global performance report for the fourth quarter and the full year of 2024. The highlights include:
The net income in the fourth quarter was $505 million, and the net income for the full year was $1.539 billion, exceeding the upper limit of the performance guidance.
The adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) was $858 million in the fourth quarter and $3.429 billion for the full year, exceeding the upper limit of the performance guidance.
Excluding the impact of exchange rates, the system-wide comparable revenue per available room (RevPAR) increased by 3.5% year-on-year in the fourth quarter and 2.7% year-on-year for the full year, exceeding the upper limit of the performance guidance.
In the fourth quarter, 34,200 guest rooms were newly signed. As of the end of 2024, 498,600 guest rooms in hotels under development were added throughout the year, an 8% increase compared to 2023.
In the fourth quarter, 22,600 guest rooms were newly added to Hilton's system. As of the end of 2024, 98,400 guest rooms were added throughout the year, a 7.3% increase compared to 2023.
Global Performance Report for the Fourth Quarter and the Full Year of 2024
Christopher J. Nassetta, President and CEO of Hilton Group, said, "We are delighted to share Hilton Group's global performance report with the market. We had a strong performance in the fourth quarter, with both revenue and net profit exceeding expectations. All segments contributed to the better-than-expected performance of revenue per available room (RevPAR). The occupancy rate for leisure travel was strong, and business transient and group business also continued to grow. We expect this positive momentum to continue into 2025. In 2024, we also achieved the highest number of signings, groundbreaking, and openings in our history, helping us achieve a net increase of 7.3% in the number of guest rooms. Currently, Hilton Group has 500,000 guest rooms under development, and we are confident that we can achieve a net increase of 6.0% to 7.0% in the number of guest rooms in 2025."
In the fourth quarter of 2024, Hilton Group opened 171 new hotels globally, with a total of 22,600 guest rooms, and a net increase of 17,200 guest rooms. In the fourth quarter, we continued to expand in the Asia-Pacific market, and the number of operating hotels has exceeded 1,000. We opened our first hotels in Bonaire and Paraguay. Currently, Hilton Group's hotels cover 140 countries and regions. At the same time, we further expanded the territory of our luxury hotel brands in the Middle East and Africa region. Hilton Group has more than 500 luxury hotels globally and plans to further expand this category in 2025, including the highly anticipated return of the Waldorf Astoria New York, as well as the openings of the Waldorf Astoria Punta Cana, the Waldorf Astoria Shanghai Qiantan, the Waldorf Astoria Osaka, the Waldorf Astoria Rabat Salé, the Conrad Hamburg, and the Conrad Athens.
In the fourth quarter of 2024, Hilton Group added 34,200 guest rooms to its development pipeline. As of December 31, 2024, the number of hotels under development by Hilton Group reached 3,578, with 498,600 guest rooms, covering 118 countries and regions around the world, including 25 countries and regions where the group newly entered. In addition, nearly half of the guest rooms in the development pipeline have already started construction, and more than half of the guest rooms are located outside the United States.
Highlights of the Asia-Pacific and Greater China Markets:
2024 was a record-breaking year for the development of Hilton in the Asia-Pacific region, with the number of newly added guest rooms and signings reaching historical highs, and the goal of having more than 1,000 operating hotels was achieved one year ahead of schedule. These remarkable achievements have further consolidated Hilton Group's layout in various brand segments and destinations.
In 2024, on average, a new Hilton hotel opened in the Greater China region of Hilton Group in less than 2.5 days, continuously setting a new "China speed". Currently, the number of operating and opened hotels of Hilton Group in China has exceeded 800, covering 10 major brands and more than 250 destinations. One out of every three guest rooms in hotels under construction in the Greater China region belongs to Hilton Group.
Hilton Group has successively reached development milestones in China. With the opening of the Conrad Chongqing, Hilton Group has brought more luxury choices to guests in the western region; the flagship brand, Hilton Hotels & Resorts, has returned to the city center of Shanghai; the Hampton by Hilton brand has welcomed the opening of its 100th hotel in China, achieving the glorious achievement of "100 hotels in ten years". Hilton Group is also committed to bringing diversified brand choices to guests. LXR Hotels & Resorts signed a contract to land in Xi'an, and the first hotel in the Chinese mainland of the lifestyle brand, Motto by Hilton, also signed a contract in Qingdao. In addition, the Hampton by Hilton brand celebrated its 10th anniversary in China; the Home2 Suites by Hilton brand continued to enter new destinations, such as Harbin, Lijiang, Kashgar, and other cities.
Guided by innovation, Hilton Group brings better experiences to guests and higher-quality returns to hotel owners. In 2024, the Hampton by Hilton Bloom Edition was launched to meet the needs and preferences of the new generation of travelers; as the first international hotel group in China to implement the "gig economy" model, this project has been expanded to nearly 100 cities, covering more than 200 hotels; once the industry-leading financial shared service center was launched, more than 40 hotels have signed up, and it will gradually cover more hotel brands under the group in the future.
In December, Hilton Group once again topped the list of "Best Workplaces in Greater China 2024" and became the only hotel group to be awarded the title of "10 Years Legends".
About Hilton Group
Hilton Group (NYSE: HLT) is a globally renowned hotel management company with 24 outstanding hotel brands. It has more than 8,400 hotels and over 1.25 million guest rooms in 140 countries and regions around the world. Hilton Group has always been committed to achieving the founding vision of "filling the world with light and warmth and making guests feel 'warm hospitality'". In its century-long development history, it has served more than 3 billion guests. Hilton Group topped the list of "Best Global Workplaces" selected by Fortune magazine and Great Place to Work Institute; and was rated as a global leader by the Dow Jones Sustainability Indices. Hilton Group has launched advanced services including Digital Key Share, automatic room upgrades for Gold and Diamond members, and "Direct Connecting Rooms", continuously improving the guest experience. Through the award-winning customer loyalty program, Hilton Honors, more than 210 million Hilton Honors members can enjoy value-for-money points redemption for accommodation. Through the free Hilton Honors app, guests can conveniently complete hotel reservations. For more details, please visit stories.hilton.com, and you can contact Hilton Group through the "Hilton Group News Center", the WeChat official account "Hilton Group Information" and "HiltonHilton", the official Weibo account "HiltonHilton", and the Chinese version of the Hilton Honors app.
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