Hilton Worldwide Holdings Stock Earnings Reports

Hilton reported resilient Q3 2025 results despite softer industry RevPAR, with adjusted EBITDA of $976 million (up 8% YoY) and adjusted EPS of $2.11, both meaningfully above expectations. System-wide RevPAR was down ~1% in Q3; the company now expects full-year RevPAR to be flat to +1% and Q4 RevPAR to be up ~1%. Hilton delivered strong development momentum: net unit growth of 6.5% in Q3, 199 hotel openings (~24,000 rooms), a development pipeline above 515,000 rooms (nearly half under construction), and ~40% of 2025 openings expected to be conversions. The company launched a new brand (Outset Collection), is focused on conversions and international expansion, and reiterated multi-year net unit growth guidance of ~6%–7% annually. Management emphasized disciplined cost control, a capital-light model, a modern cloud-based tech platform enabling AI deployment (41 internal AI use cases being tested), and owner-focused initiatives including first-of-its-kind system fee reductions tied to product/service quality scores. Hilton expects free cash flow conversion >50% of adjusted EBITDA for the full year and remains on track to return ~$3.3 billion to shareholders via buybacks and dividends. Regionally, U.S. RevPAR is expected roughly flat for 2025, with stronger growth in other regions (e.g., high single digits in Middle East & Africa).