PART I FINANCIAL INFORMATION [Item 1. Financial Statements](index=2&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Q1 2024, detailing balance sheets, operations, and cash flows, with total assets reaching $15.9 billion and net income at $268 million [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, total assets increased to $15.93 billion, driven by higher cash, while total liabilities rose to $18.75 billion due to increased long-term debt, resulting in a $2.83 billion stockholders' deficit Balance Sheet Summary (in millions) | Balance Sheet Items | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | **Total Assets** | **$15,932** | **$15,401** | | Cash and cash equivalents | $1,346 | $800 | | **Total Liabilities** | **$18,749** | **$17,748** | | Long-term debt | $10,135 | $9,157 | | **Total Stockholders' Deficit** | **($2,833)** | **($2,360)** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Total revenues for Q1 2024 increased to $2.57 billion from $2.29 billion, with net income attributable to Hilton stockholders rising to $265 million, or $1.04 per diluted share Q1 2024 vs. Q1 2023 Performance (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total Revenues | $2,573 | $2,293 | | Operating Income | $533 | $498 | | Net Income (to Hilton Stockholders) | $265 | $206 | | Diluted EPS | $1.04 | $0.77 | | Dividends per share | $0.15 | $0.15 | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities increased to $346 million, investing activities used $27 million, and financing activities provided $238 million, primarily due to $1.2 billion in new debt issuance offset by $666 million in share repurchases Cash Flow Summary (in millions) | Activity | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $346 | $330 | | Net cash used in investing activities | ($27) | ($85) | | Net cash provided by (used in) financing activities | $238 | ($547) | [Note 2: Acquisitions](index=8&type=section&id=Note%202:%20Acquisitions) Hilton expanded its brand portfolio through acquisitions, signing an agreement to acquire Graduate Hotels for $210 million and completing the acquisition of a controlling interest in Sydell Group's NoMad brand - Signed a purchase agreement to acquire the **Graduate Hotels** brand for **$210 million** in cash, expected to close in Q2 2024[21](index=21&type=chunk) - Completed an all-cash acquisition of a controlling financial interest in the **Sydell Group**, owner of the **NoMad** brand, in April 2024[21](index=21&type=chunk) [Note 6: Debt](index=10&type=section&id=Note%206:%20Debt) Total long-term debt increased to $10.14 billion, following the issuance of $1 billion in new Senior Notes in March 2024, with proceeds used for debt repayment and general corporate purposes - In March 2024, issued **$550 million** of **5.875% Senior Notes due 2029** and **$450 million** of **6.125% Senior Notes due 2032**[33](index=33&type=chunk) - As of March 31, 2024, no amounts were outstanding under the Revolving Credit Facility, which had an available borrowing capacity of **$1,913 million**[32](index=32&type=chunk) [Note 12: Business Segments](index=15&type=section&id=Note%2012:%20Business%20Segments) The Management and Franchise segment remained the primary profitability driver, with operating income increasing to $765 million, while the Ownership segment improved to an operating income of $2 million in Q1 2024 Segment Operating Income (in millions) | Segment | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Management and franchise | $765 | $667 | | Ownership | $2 | ($7) | | **Total Segment Operating Income** | **$767** | **$660** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=19&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes strong Q1 performance to continued travel demand growth, particularly internationally, with system-wide RevPAR up 2.0%, net unit growth of 5.6%, Adjusted EBITDA reaching $750 million, and $662 million returned to shareholders via share repurchases - As of March 31, 2024, Hilton's portfolio included **7,626 properties** with **1,197,329 rooms** in **126 countries and territories**[67](index=67&type=chunk) - The **Hilton Honors** guest loyalty program grew by **18%** year-over-year to **188 million members**[67](index=67&type=chunk) Reconciliation of Net Income to Adjusted EBITDA (in millions) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net income | $268 | $209 | | EBITDA | $532 | $455 | | **Adjusted EBITDA** | **$750** | **$641** | [System Growth and Development Pipeline](index=20&type=section&id=System%20Growth%20and%20Development%20Pipeline) Hilton expanded its fee-based business in Q1 2024 with net additions of 94 hotels and 14,200 rooms, achieving 5.6% net unit growth, while maintaining a robust development pipeline of 3,375 hotels and 472,300 rooms Development Activity - Q1 2024 | Metric | Hotels | Rooms | | :--- | :--- | :--- | | Openings | 106 | 16,800 | | Net Additions | 94 | 14,200 | | **Development Pipeline (End of Period)** | **3,375** | **472,300** | - Of the total rooms in the development pipeline, **229,700** were under construction and **267,900** were located outside of the U.S.[73](index=73&type=chunk) [Hotel Operating Statistics](index=23&type=section&id=Hotel%20Operating%20Statistics) System-wide comparable RevPAR increased by 2.0% in Q1 2024, driven by ADR and occupancy gains, with strong international growth offsetting a slight RevPAR decline in the U.S. Comparable Hotel Operating Statistics by Region (Q1 2024 vs. Q1 2023) | Region | Occupancy Change (pts) | ADR Change (%) | RevPAR Change (%) | | :--- | :--- | :--- | :--- | | **System-wide** | **0.2** | **1.7%** | **2.0%** | | U.S. | (0.6) | 0.5% | (0.4)% | | Americas (ex-U.S.) | 1.4 | 5.0% | 7.3% | | Europe | 3.1 | 4.5% | 9.7% | | MEA | 2.4 | 11.0% | 14.8% | | Asia Pacific | 1.3 | 5.7% | 7.9% | [Revenues Analysis](index=24&type=section&id=Revenues%20Analysis) Franchise and licensing fees increased 12.4% to $571 million, driven by strategic partnerships, while management fees rose 21.4% to $176 million due to RevPAR increases and net managed hotel additions - Franchise and licensing fees increased **12.4%** due to growth in license fees from co-branded credit cards and HGV[89](index=89&type=chunk) - Management fees increased **21.4%**, primarily due to an **8.2% RevPAR increase** at comparable managed hotels and the addition of **31 net managed hotels** since January 2023[91](index=91&type=chunk) [Liquidity and Capital Resources](index=29&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2024, Hilton held $1.42 billion in cash and $1.91 billion in available credit, having used $662 million for share repurchases and issued $1.0 billion in new Senior Notes to bolster liquidity - Repurchased approximately **3.4 million shares** of common stock for **$662 million** in Q1 2024[108](index=108&type=chunk) - As of March 31, 2024, approximately **$3.1 billion** remained available for share repurchases under the current program[108](index=108&type=chunk) - Total indebtedness was approximately **$10.3 billion** as of March 31, 2024, with no material debt maturing before May 2025[117](index=117&type=chunk)[118](index=118&type=chunk) [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risks stem from SOFR changes on variable-rate debt and foreign currency fluctuations, partially hedged by derivatives, with no material change from 2023 Form 10-K disclosures - Primary market risks are changes in **one-month SOFR** and **foreign currency exchange rates**[120](index=120&type=chunk) - The company's exposure to market risk has not materially changed from what was previously disclosed in the **2023 Form 10-K**[120](index=120&type=chunk) [Item 4. Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) As of March 31, 2024, the CEO and CFO concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - Management concluded that the company's disclosure controls and procedures were **effective** as of the end of the period[121](index=121&type=chunk) - There were no material changes in the company's internal control over financial reporting during the most recent fiscal quarter[122](index=122&type=chunk) PART II OTHER INFORMATION [Item 1. Legal Proceedings](index=33&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various ordinary course legal proceedings, with management believing adequate reserves are in place and no material adverse effect on financial position or results is expected - The company does not expect the ultimate resolution of pending litigation to have a **material adverse effect** on its financial position or results[124](index=124&type=chunk) [Item 1A. Risk Factors](index=33&type=section&id=Item%201A.%20Risk%20Factors) No material changes were reported from the risk factors previously disclosed in the company's 2023 Annual Report on Form 10-K - No material changes from the risk factors disclosed in the **2023 Form 10-K** were reported as of March 31, 2024[125](index=125&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=33&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q1 2024, Hilton repurchased 3,377,029 shares of common stock for approximately $662 million at an average price of $196.17 per share under its stock repurchase program Issuer Purchases of Equity Securities (Q1 2024) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | January 2024 | 1,281,038 | $185.26 | | February 2024 | 988,846 | $197.32 | | March 2024 | 1,107,145 | $207.76 | | **Total** | **3,377,029** | **$196.17** | - The stock repurchase program has an authorized total of **$11 billion**, with repurchases allowed through open market purchases or privately-negotiated transactions[127](index=127&type=chunk) [Item 3. Defaults Upon Senior Securities](index=33&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities during the period - None[128](index=128&type=chunk) [Item 4. Mine Safety Disclosures](index=33&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - Not applicable[128](index=128&type=chunk) [Item 5. Other Information](index=34&type=section&id=Item%205.%20Other%20Information) No director or officer adopted, modified, or terminated a Rule 10b5-1 trading arrangement during Q1 2024 - No director or officer adopted, modified, or terminated a **Rule 10b5-1 trading arrangement** in Q1 2024[129](index=129&type=chunk) [Item 6. Exhibits](index=34&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including corporate governance documents, debt indentures, award agreements, and CEO/CFO certifications - Exhibits filed include the Indenture for the new **5.875%** and **6.125% Senior Notes**, forms of **2024 employee award agreements**, and **Sarbanes-Oxley certifications**[130](index=130&type=chunk)

Financial Performance - Diluted EPS for Q1 2024 was $1.04, and adjusted diluted EPS was $1.53[2] - Net income for Q1 2024 was $268 million, and Adjusted EBITDA was $750 million[2] - Total revenues increased to $2.573 billion in Q1 2024, up 12.2% from $2.293 billion in Q1 2023[23] - Net income attributable to Hilton stockholders rose to $265 million in Q1 2024, compared to $206 million in Q1 2023, a 28.6% increase[23] - Net income attributable to Hilton stockholders increased to $265 million in Q1 2024 from $206 million in Q1 2023[35] - Diluted EPS increased to $1.04 in Q1 2024 from $0.77 in Q1 2023[35] - Adjusted EBITDA increased to $750 million in Q1 2024 from $641 million in Q1 2023[38] - Adjusted EBITDA margin improved to 70.4% in Q1 2024 from 67.8% in Q1 2023[39] - Net income for Q1 2024 increased to $268 million, up from $209 million in Q1 2023, representing a 28.2% year-over-year growth[43] - Adjusted EBITDA for Q1 2024 reached $750 million, compared to $641 million in Q1 2023, a 17% increase[43] - Share-based compensation expense for Q1 2024 was $41 million, up from $33 million in Q1 2023, a 24.2% increase[43] - Depreciation and amortization expenses for Q1 2024 were $36 million, slightly down from $37 million in Q1 2023[43] Development and Expansion - Hilton approved 29,800 new rooms for development in Q1 2024, bringing the total development pipeline to a record 472,300 rooms, a 10% increase from March 31, 2023[2] - Hilton added 16,800 rooms to its system in Q1 2024, resulting in 14,200 net additional rooms and a net unit growth of 5.6%[2] - Hilton announced the planned acquisition of the Graduate Hotels brand, expected to add approximately 35 franchised hotels in Q2 2024[2] - Hilton acquired a controlling financial interest in the Sydell Group, owner of the NoMad brand, marking its entry into the luxury lifestyle space[2] - Total system-wide properties reached 7,626, with 1,197,329 rooms as of March 31, 2024[28] - Total system includes 7,626 properties and 1,197,329 rooms, with the U.S. contributing 5,642 properties and 793,826 rooms[29] RevPAR and ADR Performance - System-wide comparable RevPAR increased 2.0% in Q1 2024 compared to Q1 2023[2] - System-wide RevPAR grew by 2.0% to $104.16 in Q1 2024, driven by a 1.7% increase in ADR to $154.91[26] - Middle East & Africa region showed the strongest RevPAR growth at 14.8%, with ADR increasing by 11.0% to $193.22[26] - Conrad Hotels & Resorts achieved a 14.6% increase in RevPAR to $204.67, supported by a 6.9% rise in ADR to $286.62[26] - Hampton by Hilton experienced a 1.7% decline in RevPAR to $81.93, despite a 0.7% increase in ADR to $123.94[26] - Management and franchise segment RevPAR increased by 1.8% to $103.78, with ADR up 1.6% to $154.36[26] - Ownership segment RevPAR surged by 14.0% to $133.64, driven by a 7.7% increase in ADR to $198.05[26] - Full-year 2024 system-wide RevPAR is projected to increase between 2.0% and 4.0% compared to 2023[2] Capital and Shareholder Returns - Hilton repurchased 3.4 million shares of common stock in Q1 2024, returning $701 million in capital to shareholders[2] - Capital expenditures decreased by 46.0% to $34 million in Q1 2024 compared to $63 million in Q1 2023[32] - Contract acquisition costs decreased by 64.8% to $37 million in Q1 2024 compared to $105 million in Q1 2023[32] Debt and Financial Leverage - Long-term debt increased to $10,173 million as of March 31, 2024, from $9,196 million as of December 31, 2023[42] - Net debt increased to $8,836 million as of March 31, 2024, from $8,392 million as of December 31, 2023[42] - Long-term debt as of March 31, 2024, stood at $10.173 billion, with a net debt to Adjusted EBITDA ratio of 2.8[43] - The company's net debt as of March 31, 2024, was $8.836 billion[43] - Net debt is calculated as long-term debt (including current maturities) minus cash, cash equivalents, and restricted cash, used to evaluate financial leverage[60] - Net debt to Adjusted EBITDA ratio is a non-GAAP measure used to assess indebtedness, frequently compared by analysts and investors[61] - Long-term debt to net income ratio is calculated as long-term debt (including current maturities) divided by net income, providing insights into financial leverage[60] Full-Year Projections - Full-year 2024 net income is projected to be between $1,586 million and $1,621 million, and Adjusted EBITDA is projected to be between $3,375 million and $3,425 million[2] - For the full year 2024, the company forecasts net income between $1.577 billion (low case) and $1.612 billion (high case)[48] - Adjusted EBITDA for 2024 is projected to be between $3.375 billion (low case) and $3.425 billion (high case)[53] - Diluted EPS for Q2 2024 is expected to range from $1.74 (low case) to $1.80 (high case)[47] - The company plans to exclude the effect of the planned acquisition of Graduate Hotels from its 2024 outlook[48] Operational Metrics and Definitions - Occupancy measures the utilization of available capacity, calculated as room nights sold divided by room nights available, used to gauge demand and determine achievable ADR pricing levels[63] - ADR (Average Daily Rate) represents average room price attained, calculated as hotel room revenue divided by room nights sold, providing insights into pricing environment and customer base[64] - RevPAR (Revenue per Available Room) is a key performance indicator, calculated as hotel room revenue divided by room nights available, reflecting occupancy and ADR trends[65] - Occupancy, ADR, and RevPAR metrics are presented on a comparable basis for the three months ended March 31, 2024, using currency-neutral exchange rates[66] - Comparable hotels as of March 31, 2024, totaled 6,347 out of 7,532 hotels in the system, with 1,185 non-comparable hotels including 421 removed due to large-scale capital projects, property damage, or business interruption[62] Non-GAAP Measures and Limitations - Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP measures with limitations and should not be considered substitutes for GAAP financial performance metrics[60] - The company emphasizes that non-GAAP measures like net debt and Adjusted EBITDA ratios may not be comparable to similarly titled measures of other companies[61]

Core Viewpoint - Hilton Worldwide Holdings Inc. is set to report its first-quarter 2024 results on April 24, with expectations of improved earnings and revenue compared to the previous year [1][2]. Financial Estimates - The Zacks Consensus Estimate for first-quarter earnings is $1.41 per share, reflecting a 13.7% increase from $1.24 in the same quarter last year [2]. - Revenue estimates are approximately $2.6 billion, indicating an 11.5% growth from the prior year's quarter [2]. Factors Influencing Performance - Hilton's revenue growth is anticipated to be driven by steady leisure demand, recovery in business transient and group segments, and expanded partnerships [3]. - The company expects RevPAR growth of 2% to 4% year-over-year, supported by increased occupancy rates and average daily rates [3]. - The introduction of the Hilton for Business initiative, targeting small and medium-sized businesses (SMBs), is expected to positively impact revenue, as SMBs represent about 85% of the business transient mix [4]. Revenue Contributions - Significant contributions are expected from Franchise and licensing fees, Base and other management fees, and Incentive Management Fees, with year-over-year increases projected at 18.7% (to $603.1 million), 3% (to $82.4 million), and 1.6% (to $66 million) respectively [4]. Income and EBITDA Projections - For the first quarter of 2024, Hilton anticipates net income between $340 million and $359 million, with adjusted EBITDA expected to range from $690 million to $710 million [5]. Earnings Prediction Model - The current model indicates that Hilton may not conclusively predict an earnings beat, with an Earnings ESP of -0.17% and a Zacks Rank of 3 (Hold) [7].

Group 1: Travel Industry Insights - The concept of revenge travel may be fading, but consumers still value vacation hours, indicating potential for travel stocks [1] - A Deloitte report suggests a shift in travel preferences, with travelers likely to spend more on in-destination experiences and lodging [1] - Expenditure data shows consumers are still willing to spend, making it a favorable time to consider travel stocks [1] Group 2: Hilton (HLT) - Hilton operates in the lodging industry through management, franchising, ownership, and leasing of hotels and resorts [2] - HLT faces competition from the sharing economy, particularly Airbnb, which may be losing appeal due to negative user experiences [2] - Analysts have a consensus moderate buy rating for HLT with a price target of $213.91, indicating about 8% upside potential [2] Group 3: United Airlines (UAL) - United Airlines is positioned to benefit from a potential increase in travel sentiment, with its stock currently discounted compared to pre-pandemic levels [4][5] - The company has shown strong financial performance, with an average earnings surprise of 31.45% over the last four quarters [5] - Analysts project revenue of $57.39 billion for fiscal 2024, a 6.8% increase from the previous year, with a high-side target of $58.33 billion [5] Group 4: Uber (UBER) - Uber is a major player in the travel sector, expanding beyond ride-sharing into food delivery and shipping [6] - The ride-sharing service offers growth opportunities, especially for travelers in non-English speaking countries [6] - Analysts forecast EPS of $1.28 for the current fiscal year, with projected sales of $40.79 billion, reflecting a growth rate of 16.2% [7]

Group 1: Zacks Premium and Style Scores - Zacks Premium offers various tools for investors to enhance their stock market engagement, including daily updates, access to the Zacks Rank, and Premium stock screens [1] - The Zacks Style Scores are complementary indicators that rate stocks based on value, growth, and momentum characteristics, helping investors identify stocks likely to outperform the market in the next 30 days [2] - Stocks are rated from A to F based on their Style Scores, with A indicating the highest potential for outperformance [2] Group 2: Value, Growth, and Momentum Scores - The Value Score focuses on identifying undervalued stocks using financial ratios like P/E and Price/Sales to find attractive investment opportunities [3] - The Growth Score emphasizes a company's financial health and future outlook, analyzing projected and historical earnings and cash flow to identify sustainable growth stocks [3] - The Momentum Score helps investors capitalize on price trends by assessing recent price changes and earnings estimate revisions [3] Group 3: VGM Score and Zacks Rank - The VGM Score combines Value, Growth, and Momentum Scores, providing a comprehensive indicator for stock selection [4] - The Zacks Rank is a proprietary model that uses earnings estimate revisions to guide investors, with 1 (Strong Buy) stocks historically yielding an average annual return of +25.41% since 1988 [5] - To maximize returns, investors should focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B [6] Group 4: Company Spotlight - Hilton Worldwide Holdings Inc. (HLT) - Hilton Worldwide Holdings, a hospitality company, has a development pipeline of nearly 3,274 hotels and approximately 462,400 rooms across 118 countries as of December 31, 2023 [8] - HLT is currently rated 3 (Hold) on the Zacks Rank, with a VGM Score of B and a Growth Style Score of B, indicating a year-over-year earnings growth forecast of 13.7% for the current fiscal year [8][9] - Recent upward revisions by three analysts have increased the Zacks Consensus Estimate for HLT to $7.06 per share, with an average earnings surprise of 5.1% [9]

Hilton Worldwide Holdings Inc. (HLT) has announced its acquisition of a majority controlling interest in Sydell Group to bolster its luxury lifestyle hotel market presence. This move marks HLT's strategic entry into the flourishing luxury hospitality segment, leveraging Sydell Group's acclaimed NoMad brand. Sydell Group, led by Andrew Zobler, has crafted several successful lifestyle brands, including NoMad, known for its exceptional design and culinary experiences.With Sydell Group overseeing design and bra ...

Hilton Worldwide Holdings Inc. (HLT) unveiled the enhanced Hilton Honors American Express Business Card in collaboration with American Express Company (AXP) . It offers new benefits, including up to $240 annually in statement credits on eligible Hilton purchases.The enhanced card also simplifies the rewards structure, allowing Card Members to earn Hilton Honors Bonus Points wherever they spend. This initiative empowers business owners to utilize their purchases to fund future Hilton stays, backed by America ...

Hilton Worldwide Holdings Inc. (HLT) upper-midscale brand — Hampton by Hilton — recently unveiled a North American prototype and a refreshed global brand identity. The initiative underscores the company’s commitment to solidify its position as a premium brand in the evolving landscape of travel.The new North American prototype focuses on modernizing, improving functionality and cost-effectiveness to enhance the overall guest experience. Updates include maximizing revenue opportunities by increasing the tota ...

Core Insights - Hilton Worldwide Holdings Inc. has signed a contract to acquire the Graduate Hotels brand for $210 million, expected to close in Q2 2024, enhancing its brand portfolio and market reach [1][2] - The acquisition includes all global rights to the Graduate Hotels brand, with AJ Capital Partners retaining ownership of over 35 properties under long-term franchise agreements with Hilton [2] - Hilton's expansion strategy includes opening 395 new hotels in 2023, achieving a net unit growth of 4.9%, and a record pipeline of nearly 3,274 hotels, indicating strong growth potential [3] Acquisition Details - The acquisition will allow Hilton to enter franchise agreements for existing and future Graduate Hotels, with bookings through Hilton channels expected to start in late 2024 [2] - Customers booking through Hilton will gain access to benefits such as exclusive discounts and participation in the Hilton Honors loyalty program [2] Expansion Strategy - Hilton's focus on market expansion and product diversification is evident, with over half of its development pipeline located outside the U.S. [3] - The company achieved an 8.6% year-over-year increase in room additions, with a total of nearly 63,000 new rooms added in 2023 [3] - Hilton expects net unit growth of 5.5% to 6% for 2024, reflecting its ongoing commitment to growth [3] Stock Performance - Hilton's shares have increased by 34.9% over the past six months, outperforming the Zacks Hotels and Motels industry's growth of 24.5% [4]

MCLEAN, Va. & NASHVILLE--(BUSINESS WIRE)--Hilton (NYSE: HLT) today announced an agreement with Adventurous Journeys Capital Partners (“AJ Capital”) to acquire the fan-favorite Graduate Hotels® brand, adding a significant growth opportunity for the global hospitality leader in the fast-growing lifestyle hotel market. Hilton will pay $210 million to acquire all rights to the Graduate brand worldwide, enter into franchise agreements for all existing and signed pipeline Graduate Hotels, and become responsibl ...