(Adapted by David Hogg from a 4/29/15 article by Jeff Clabaugh in the Washington Business Journal. Congratulations to development partner Hilton Worldwide! – Dave Hogg)
Hilton Worldwide Holdings Inc. reported a 22 percent increase in earnings and has increased its development pipeline to more than 240,000 new rooms.
Hilton’s first-quarter revenue was $2.6 billion, compared with $2.4 billion in the same quarter a year ago. Net income was $150 million, or 15 cents per share, compared with $123 million, or 12 cents per share, in the first quarter of 2014.
Revenue per available room rose 6.6 percent.
Hilton opened 53 hotels in the first quarter, adding 8,000 rooms, and approved more than 23,000 new rooms. It says 56 percent of the 1,422 hotels now in development are in the U.S.
Hilton (NYSE: HLT) forecasts full-year revenue per available room growth of 5 percent to 7 percent.