The company projects adjusted earnings per share between $6.80 and $6.94 this year, according to a statement Wednesday. That’s below an average analyst estimate of $7.02. Hilton’s guidance for net income beat estimates.
Hilton Worldwide Holdings Inc. reported that 2024 projections fell short of expectations, as travel demand normalized after the ups and downs since the start of the pandemic.
The company projects adjusted earnings per share between $6.80 and $6.94 this year, according to a statement Wednesday. That’s below an average analyst estimate of $7.02. Hilton’s guidance for net income beat estimates.
Hilton, led by CEO Christopher Nassetta, reported adjusted earnings per share of $1.68 in the fourth quarter of 2023. That compares with analysts’ average estimate of $1.57, according to data compiled by Bloomberg.
The company has been pursuing deals as a way to use capital. Hilton, which has generally sought to build brands internally, is in talks to acquire the campus-focused Graduate Hotels brand and is also a potential buyer of NoMad HotelsBloomberg reported.
Hotel companies have recovered from pandemic lows when travel froze and international tourism has boosted their results recently. Hilton’s revenue per available rooma key profitability metric, increased 5.7% from the fourth quarter of 2022.
Hilton shares are up more than 50% since the start of 2023outpacing a 37% rise in a Bloomberg index of U.S. lodging companies.
