McLean-based Hilton Worldwide says room revenue in the third quarter exceeded pre-pandemic levels for the first time since the pandemic began, and it is expecting full-year results to top estimates.
Hilton’s revenue per available room in the third quarter was 29.9% higher than the third quarter of 2021 on increases in both occupancy and daily rates. Room revenue was 5% higher than the third quarter of 2019.
Hilton opened 80 new hotels during the third quarter, and launched its 25,000th room under its curio Collection by Hilton, a brand it launched in 2014.
It ended the quarter with 2,800 hotels in 112 countries and territories in its development pipeline, including 29 where it does not currently have any hotels.
Hilton also took over management of the former Trump Hotel in D.C.’s historic Old Post Office Pavilion in June, under its Waldorf-Astoria brand.
For the third quarter, Hilton had total revenue of $2.4 billion, up from $1.7 billion in the same quarter a year ago, and $347 million in net income, compared to $241 million a year earlier.
For all of 2022, Hilton now forecasts revenue per available room to increase by up to 43%.