Q4 2025 Hilton Worldwide Holdings Inc Earnings Call Transcript
Key Points
- Hilton Worldwide Holdings Inc (HLT) reported a record adjusted EBITDA of $3.7 billion for 2025, up 9% year-over-year, driven by industry-leading net unit growth and cost discipline.
- The company expanded its global portfolio significantly, adding nearly 100,000 new rooms in 2025, marking a net unit growth of 6.7%.
- Hilton Worldwide Holdings Inc (HLT) achieved several milestones, including reaching 9,000 hotels globally and opening its 1,000th luxury and lifestyle hotel.
- The Hilton Honors loyalty program continues to grow, now approaching 0.25 billion members, with new partnerships and loyalty tiers introduced in 2025.
- The company returned $3.3 billion to shareholders in 2025, the highest total capital return in its history, showcasing the strength of its capital-light business model.
- System-wide RevPAR growth was softer than anticipated, with a 50 basis point increase year-over-year in the fourth quarter, impacted by weaker US government demand and international inbound travel.
- Business transient RevPAR declined by 2.1% in the fourth quarter, primarily due to headwinds from the US government shutdown.
- Fourth-quarter comparable US RevPAR decreased by 1.6%, largely driven by pressure across business transient and group segments.
- RevPAR in China declined by 1.4% in the fourth quarter, constrained by weaker group demand due to government travel policies.
- The company expects US RevPAR growth towards the low end of its 2026 system-wide guidance, indicating potential challenges in the domestic market.
Good morning, and welcome to the Hilton fourth-quarter 2024 (sic - 2025) earnings conference call. (Operator Instructions) Please note this event is being recorded. I would now like to turn the conference over to Mr. Charlie Ruehr, Vice President, Corporate Finance and Investor Relations. You may begin.
Thank you, Chuck. Welcome to Hilton's fourth-quarter and full-year 2025 earnings call. Before we begin, we would like to remind you that our discussions this morning will include forward-looking statements. Actual results could differ materially from those indicated in the forward-looking statements, and forward-looking statements made today speak only to our expectations as of today.
We undertake no obligation to update or revise these statements. For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of our most recently filed Form 10-K.
In addition, we will refer to certain
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