Hilton Group’s FY2023 Revenue Exceeds $10 Billion, 600th Hotel in Greater China Opens in Nanjing

2月 20, 2024

Hilton Worldwide Holdings Inc., hereinafter referred to as “Hilton,” announced its FY2023 and Q4 performance data up to December 31, 2023: Annual revenue increased by 16.7% year-over-year to $10.235 billion, with Q4 revenue up 6.8% year-over-year to $2.609 billion.

In Q4 2023, Hilton achieved a record number of new room additions (+24,000 rooms), with a net increase of 22,300 rooms, bringing the total number of rooms for the year to 62,900. During this quarter, Hilton achieved several milestone growths:

  • Opened the 150th Hilton Curio Collection hotel, the 250th Hilton Tru hotel, and the 1,000th Hilton Garden Inn;
  • Opened the 600th hotel in Greater China—Hilton Nanjing Niushoushan, marking Hilton’s strong influence in the Greater China region.
  • The first Signia hotel opened in Atlanta, Georgia, USA, which is also the largest hotel development project in Atlanta in 40 years.

Alongside the financial report, Hilton announced an exclusive strategic partnership with the boutique hotel alliance—Small Luxury Hotels of the World™, welcoming Hilton guests to stay at hundreds of Small Luxury Hotels of the World properties. This collaboration will greatly expand the luxurious experiences offered by Hilton, highly complementary to Hilton’s vast hotel network.

Christopher J. Nassetta, President and CEO of Hilton, stated: “We delivered another year of strong top- and bottom-line results and continued to deliver on our robust development story. Positive momentum in openings continued throughout the year, with more openings in the fourth quarter than any other quarter in the Company’s history. We also achieved record signings for the year, meaningfully ahead of pre-pandemic levels. We expect this momentum to continue into 2024 and net unit growth to accelerate to the high end of our guidance range of 5.5 percent to 6.0 percent, with the opportunity for further upside of 25 to 50 basis points from our exclusive partnership with Small Luxury Hotels of the World.”

Hilton approved the development of 33,800 rooms in the fourth quarter, with a total of 130,200 new planned development rooms for the year. As of December 31, 2023, Hilton has approximately 3,270 hotels in 118 countries and territories, with a record number of 462,400 rooms under development, including 30 countries and territories as new development regions. Furthermore, of the rooms under development, 216,600 are under construction, with 259,800 located outside the United States.

Brands under the Hilton Group

Following the release of the financial report, Hilton’s stock price slightly rose by 0.72% at the close of February 7, with a current market value of approximately $50.27 billion.

As of December 31, key performance data are as follows:


Based on this, Hilton has announced its full-year performance outlook for 2024:

  • System-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 2.0 percent and 4.0 percent compared to 2023.
  • Diluted EPS is projected to be between $6.57 and $6.71.
  • Diluted EPS, adjusted for special items, is projected to be between $6.80 and $6.94.
  • Net income is projected to be between $1,694 million and $1,729 million.
  • Adjusted EBITDA is projected to be between $3,330 million and $3,380 million.
  • Contract acquisition costs and capital expenditures, excluding amounts reimbursed by third parties, are projected to be between $250 million and $300 million.
  • Capital return is projected to be approximately $3.0 billion.
  • General and administrative expenses are projected to be between $415 million and $430 million.
  • Net unit growth is projected to be between 5.5 percent and 6.0 percent.

| Source: Official financial report, official press release

| Image Credit: Hilton official website

| Editor: LeZhi