Juliet Rose bar and restaurant at the Hilton Munich City
Hilton Worldwide announced financial results for fourth quarter and calendar year 2023.
The hotelier posted a net income of $150 million for the fourth quarter, down from profit of $176 million in the same period in 2019, and $1.15 billion for the full year, down from $886 million.
Revenue for the fourth quarter was $2.6 billion, up 7% from the same period in 2022, and $10.2 billion for the full year, a 17% year-over-year increase from $8.8 billion.
“We are happy to report a great end to what was another really strong year for Hilton,” said Hilton’s CEO, Chris Nassetta. “During the year, we launched two new brands, introduced new innovations, expanded our partnerships and opened a near record number of rooms,
Hilton added a record 24,000 rooms to its system in the fourth quarter, resulting in 62,900 room openings for the full year, contributing to net unit growth of 4.9%.
In addition, the hotelier approved 33,800 new rooms for development in Q4, bringing its development pipeline to a record 462,400 rooms as of December 31, 2023. This represents year-over-year growth of 11%.
(Photo: Accura Media Group)
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