Stock Market News

Hilton raises 2022 profit forecast on strong travel demand

2022.07.27 17:54

2/2
Hilton raises 2022 profit forecast on strong travel demand
FILE PHOTO: Traders wear special vests for the Hilton IPO on the floor of the New York Stock Exchange December 12, 2013. REUTERS/Brendan McDermid

2/2

(Reuters) -Hotel operator Hilton Worldwide Holdings (NYSE:HLT) Inc on Wednesday raised its full-year profit forecast after reporting a better-than-expected quarterly profit on the back of a rebound in travel demand.

The hotel industry has benefited from people spending on travel as well as hotel stays, though rising interest rates and tight financial conditions are stoking fears of a recession.

However, credit card and other data indicate that travel demand is likely to remain robust.

Shares of Hilton, which owns brands including the Waldorf Astoria Hotels & Resorts, were up 4.9% at $126.1.

The hotel operator said it expects net income of $1.15 billion to $1.22 billion this year, compared to its previous guidance of $1 billion to $1.07 billion.

The Virginia-based company expects full-year capital return between $1.5 billion and $1.9 billion, compared to its prior guidance of $1.4 billion to $1.8 billion.

The company expects its full-year system-wide comparable RevPAR, or revenue per available room, to increase between 37% and 43% compared to a year earlier.

Hilton reported revenue of $2.24 billion for the second quarter, compared with average analysts’ expectations of $2.08 billion, according to Refinitiv data.

On an adjusted basis, the company earned $1.29 per share, better than the average analyst expectation of $1.04.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,543.65 1.81%
ethereum
Ethereum (ETH) $ 1,947.84 3.86%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.37 3.22%
bnb
BNB (BNB) $ 629.04 5.12%
solana
Solana (SOL) $ 130.40 2.85%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.727541 3.81%
dogecoin
Dogecoin (DOGE) $ 0.175658 4.20%
tron
TRON (TRX) $ 0.220134 2.99%
staked-ether
Lido Staked Ether (STETH) $ 1,945.01 3.89%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,376.61 1.77%
pi-network
Pi Network (PI) $ 1.34 3.61%
leo-token
LEO Token (LEO) $ 9.82 2.67%
chainlink
Chainlink (LINK) $ 14.16 5.35%
the-open-network
Toncoin (TON) $ 3.50 3.43%
stellar
Stellar (XLM) $ 0.27615 3.43%
usds
USDS (USDS) $ 1.00 0.00%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,331.55 3.84%
hedera-hashgraph
Hedera (HBAR) $ 0.194039 5.39%
avalanche-2
Avalanche (AVAX) $ 19.03 3.86%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.97%
sui
Sui (SUI) $ 2.37 6.22%
litecoin
Litecoin (LTC) $ 93.57 4.36%
mantra-dao
MANTRA (OM) $ 7.03 3.13%
bitcoin-cash
Bitcoin Cash (BCH) $ 341.53 2.49%
polkadot
Polkadot (DOT) $ 4.42 4.42%
ethena-usde
Ethena USDe (USDE) $ 0.999738 0.01%
weth
WETH (WETH) $ 1,947.40 3.81%
bitget-token
Bitget Token (BGB) $ 4.44 1.64%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.20%
hyperliquid
Hyperliquid (HYPE) $ 13.63 3.49%
whitebit
WhiteBIT Coin (WBT) $ 28.58 0.61%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,069.18 3.83%
monero
Monero (XMR) $ 211.99 0.19%
uniswap
Uniswap (UNI) $ 6.38 5.03%
susds
sUSDS (SUSDS) $ 1.04 0.10%
aptos
Aptos (APT) $ 5.41 5.31%
dai
Dai (DAI) $ 0.999668 0.05%
near
NEAR Protocol (NEAR) $ 2.68 6.89%
okb
OKB (OKB) $ 50.46 3.21%
pepe
Pepe (PEPE) $ 0.000007 13.27%
internet-computer
Internet Computer (ICP) $ 6.02 8.25%
mantle
Mantle (MNT) $ 0.829591 1.46%
ondo-finance
Ondo (ONDO) $ 0.881944 7.70%
ethereum-classic
Ethereum Classic (ETC) $ 18.04 3.55%
gatechain-token
Gate (GT) $ 22.01 3.68%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.96 10.69%
aave
Aave (AAVE) $ 176.69 7.07%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,580.66 1.94%