EUROPE AND ASIA PACIFIC OVERTOOK IT
RR | New York | August 9, 2024
Leave a comment
RELATED TOPICS: AJ Capital Partners, Chris Nassetta, Sydell Group’s NoMad Hotels, Graduate Hotels, Hilton, New York
According to Hilton’s second quarter results presentation, America is the region where RevPAR (Revenue per available room) grew the least at 3%, while Europe reached 7% and Asia Pacific 11%.
Hilton reported earnings that beat analysts’ expectations. However, its shares fell 1.7% as the company’s projections fell short of estimates.
Hilton Chairman Chris Nassetta said the Hotel chain posted net income of $422 million and adjusted earnings before interest, taxes, depreciation and amortization of $917 million.
Nassetta indicated that for the rest of the year they will continue to grow with existing brands, as well as the incorporation of new brands and strategic partner hotels, “we expect net unit growth of between 7% and 7.5% for the entire year,” he said.
Hilton opened 22,400 rooms in the second quarter, representing an average increase of 18,000 rooms, boosting its net unit growth to 6.2%. Nassetta said the hotelier’s $210 million acquisition of Graduate Hotels from AJ Capital Partners and NoMad Hotels from Sydell Group drove the increase in net unit growth.
As reported by REPORTUR.usIn June, Nassetta toured Latin America and the Caribbean to reaffirm her commitment to these markets, meeting with industry leaders, owners, partners and team members in Argentina, Peru, Colombia and Costa Rica. (Hilton has tripled its presence in Latin America and the Caribbean in a decade.)
