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The hospitality sector’s recovery from the pandemic has been turbocharged by a strong appetite for travel due to household savings and a hybrid work model, helping the industry offset rising labor costs.
Hilton, which owns brands including Waldorf Astoria Hotels & Resorts, expects to post an adjusted profit per share between $5.42 and $5.68 per share for this year. Analysts polled by Refinitiv expect a 2023 profit of $5.60 per share.
For the fourth quarter, Hilton said revenue per available room, or RevPAR – a key metric for investors – rose 24.8% on a currency neutral basis from a year earlier.
Excluding items, Hilton earned $1.59 per share for the quarter ended Dec. 31, beating analyst expectations of $1.22 per share. Its revenues rose about 33% to $2.44 billion, compared with $2.38 billion as per Refinitiv data.
