Core Insights - Mountain Valley Lodge in Hailey, Idaho, will close on February 16, 2026, for a comprehensive renovation and conversion to Hampton by Hilton Hailey Sun Valley, marking Hilton's entry into the greater Wood River Valley region [1] - The renovation aims to modernize the property while incorporating design elements that reflect the natural beauty of the area, with plans to reopen in spring 2026 [1] - The hotel will connect to Hilton's global distribution platform and over 240 million Hilton Honors members, enhancing its appeal to travelers [1] Company Overview - Après Hotels, based in Lynden, Washington, is the managing partner for the renovation project, with Jensen Davenport Architects leading the design [1] - The renovation will include updated guestrooms, expanded public spaces, and signature Hampton amenities such as complimentary hot breakfast and a modern fitness center [1] - Hampton by Hilton is recognized as the No. 1 lodging franchise for the last 17 years by Entrepreneur, with over 3,100 properties globally [1] Industry Context - The transformation of Mountain Valley Lodge represents a significant investment in the Wood River Valley's hospitality sector, reinforcing the commitment to enhance local offerings [1] - The project aims to deliver a high-quality, upper-midscale hotel experience while remaining connected to the local culture [1] - Hilton Honors members will benefit from exclusive offers and contactless technology through the Hilton Honors mobile app [1]

Core Insights - Hilton's fourth-quarter comparable U.S. RevPAR declined by 1.6%, primarily due to the prolonged U.S. government shutdown, while international regions showed stronger growth [1][2] - System-wide RevPAR growth for Hilton was reported at 0.5% year over year on a comparable and currency-neutral basis, with international strength partially offsetting weaker U.S. demand [2][6] - The company is optimistic about improving trends into early 2026, supported by a strong development pipeline and international performance [3][4] Financial Performance - Adjusted EBITDA for Q4 rose approximately 10% to around $946 million, with full-year adjusted EBITDA reaching $3.7 billion, marking a 9% year-over-year increase [5][7] - Hilton returned a record $3.3 billion to shareholders in 2025 and anticipates returning about $3.5 billion in 2026 [5][8] - Diluted EPS adjusted for special items was reported at $2.08 for Q4, with guidance for 2026 EPS adjusted for special items expected to be between $8.65 and $8.77 [7][10] Development and Growth - Hilton opened nearly 200 hotels (approximately 26,000 rooms) in Q4, achieving a net unit growth of 6.7% for 2025, with a development pipeline exceeding 520,000 rooms [4][12][13] - Conversions accounted for about 40% of 2025 room openings, with expectations for conversions to remain a significant growth contributor [13][14] - The company launched new brands, including the Apartment Collection by Hilton, aimed at expanding its market presence [15][17] Market Outlook - For 2026, Hilton expects system-wide RevPAR growth of 1% to 2%, with positive trends anticipated from group demand and leisure travel [9][10] - The company highlighted macroeconomic factors such as easing inflation and a favorable regulatory environment that could support stronger performance in 2026 compared to 2025 [11] - Group demand is expected to outperform, with stable booking windows and a mid-single-digit increase in group position system-wide [20]

Financial Data and Key Metrics Changes - For the full year 2025, system-wide RevPAR growth was up 40 basis points year over year, with record adjusted EBITDA of $3.7 billion, up 9% year over year [5][6] - In the Fourth Quarter, system-wide RevPAR increased 50 basis points year-over-year, with adjusted EBITDA at $946 million, up 10% year-over-year [6][15] - The company returned $3.3 billion to shareholders in 2025, the highest total capital return in its history [6] Business Line Data and Key Metrics Changes - Leisure transient RevPAR was up 2.3%, while business transient RevPAR was down 2.1% due to U.S. government shutdown impacts [6][15] - Group RevPAR increased by 2.6%, driven by strong international group growth [6][15] - The company opened nearly 200 hotels in the Fourth Quarter, totaling nearly 26,000 rooms, contributing to a full-year net unit growth of 6.7% [7][8] Market Data and Key Metrics Changes - In the Americas outside the U.S., Fourth Quarter RevPAR increased 3.8% year-over-year, while Europe saw a 5.3% increase, and the Middle East and Africa region experienced a 15.9% increase [16][17] - Asia-Pacific region's Fourth Quarter RevPAR was up 9.2% excluding China, while China saw a decline of 1.4% [17] Company Strategy and Development Direction - The company is focused on expanding its brand portfolio, including the launch of the Apartment Collection by Hilton and Outset Collection, targeting the apartment-style lodging segment [10][12] - The pipeline reached over 520,000 rooms, with expectations for sustained net unit growth of 6%-7% for 2026 and beyond [11][17] - The company aims to enhance its Hilton Honors program, making loyalty more accessible and rewarding [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, expecting stronger economic conditions and improved performance in EMEA and APAC regions [7][30] - The CEO highlighted macroeconomic factors such as decreasing inflation and increased investment in technology as positive indicators for future growth [21][25] - Management noted that early 2026 showed positive trends in group bookings and leisure demand, with expectations for RevPAR growth of 1%-2% year-over-year [7][18] Other Important Information - The company was named the number one world's best workplace by Fortune and Great Place to Work for 2025 [13] - The company continues to see strong performance in its luxury and lifestyle brands, with nearly 30% of total openings in the quarter coming from these segments [8][9] Q&A Session Summary Question: Overview of the broader economy and lodging industry - Management expressed optimism about the economy, citing macro and micro forces that are converging positively, including decreasing inflation and a favorable investment environment [21][30] Question: AI and technology partnerships - The company is actively exploring AI applications across its operations and is engaged with major tech players to enhance efficiencies and customer experience [34][41] Question: Growth of lifestyle and luxury brands - Management indicated that as the lifestyle and luxury brands gain scale, they will benefit from network effects, leading to increased market share and profitability [46][49] Question: Development environment and key money usage - The company remains disciplined regarding key money, with a focus on maintaining a competitive edge while managing development costs [53][56] Question: RevPAR guidance and quarterly cadence - Management acknowledged the complexity of the upcoming year but expressed confidence in the guidance range, citing potential upside from events like the World Cup [60][62] Question: EPS growth rate compared to EBITDA growth - Management clarified that EPS growth is impacted by share count and interest expenses, with adjusted EPS growth expected in the low double digits [67][68]

Financial Data and Key Metrics Changes - For the full year 2025, system-wide RevPAR growth was up 40 basis points year over year, with record adjusted EBITDA of $3.7 billion, up 9% year over year [5][6] - In the fourth quarter, system-wide RevPAR increased 50 basis points year-over-year, with adjusted EBITDA at $946 million, up 10% year-over-year [6][15] - The company returned $3.3 billion to shareholders in 2025, the highest total capital return in its history [6] Business Line Data and Key Metrics Changes - Leisure transient RevPAR was up 2.3%, while business transient RevPAR was down 2.1% due to U.S. government shutdown impacts [6][15] - Group RevPAR increased by 2.6%, driven by strong international group growth [6][15] - The company opened nearly 200 hotels in the fourth quarter, totaling nearly 26,000 rooms, and added nearly 100,000 new rooms for the full year, representing a net unit growth of 6.7% [7][8] Market Data and Key Metrics Changes - In the Americas outside the U.S., fourth quarter RevPAR increased 3.8% year-over-year, while Europe saw a 5.3% increase, and the Middle East and Africa region experienced a 15.9% increase [16][17] - Asia-Pacific's fourth quarter RevPAR was up 9.2% excluding China, while RevPAR in China declined 1.4% [17] Company Strategy and Development Direction - The company is focused on expanding its brand portfolio, including the launch of the Apartment Collection by Hilton and the Outset Collection, to capture new market segments [10][12] - The development pipeline reached over 520,000 rooms, with expectations for sustained net unit growth of 6%-7% for 2026 and beyond [11][18] - The company aims to enhance its Hilton Honors program to drive loyalty and engagement, with nearly a quarter billion members [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, expecting stronger economic conditions and improved performance in EMEA and APAC regions [7][30] - The CEO highlighted macroeconomic factors such as decreasing inflation and increased investment in technology as positive indicators for future growth [21][25] - Management noted that early 2026 trends are positive, with strong group bookings and leisure demand [7][30] Other Important Information - The company has been recognized as the number one world's best workplace by Fortune and Great Place to Work for 2025 [13] - The company continues to focus on non-RevPAR-driven fees, which are expected to grow above the algorithm due to strong credit card and timeshare performance [73][74] Q&A Session Summary Question: Overview of the broader economy and lodging industry - Management remains optimistic about 2026, citing macroeconomic improvements and a potential trend towards middle-class real wage growth, which could increase disposable income and spending on travel [21][30] Question: AI and technology partnerships - The company is actively exploring AI applications across its operations, focusing on efficiency and customer experience improvements [34][41] Question: Growth of lifestyle and luxury brands - Management believes that as lifestyle and luxury brands gain scale, they will create a network effect that enhances market share and profitability [46][49] Question: Development environment and key money usage - The company maintains discipline in key money usage, with a focus on upper upscale and luxury segments, while expecting conversions to play a larger role in future growth [55][56] Question: RevPAR guidance and quarterly cadence - Management anticipates a balanced performance throughout the year, with potential upside from events like the World Cup [60][62] Question: EPS growth rate - Management explained that EPS growth is impacted by share count and interest expenses, with adjusted EPS growth expected in the low double digits [67][68]

Financial Data and Key Metrics Changes - For the full year 2025, system-wide RevPAR growth was up 40 basis points year-over-year, with record adjusted EBITDA of $3.7 billion, an increase of 9% year-over-year [4][5] - In Q4 2025, system-wide RevPAR increased by 50 basis points year-over-year, with adjusted EBITDA reaching $946 million, up 10% year-over-year [5][14] - The company returned $3.3 billion to shareholders in 2025, marking the highest total capital return in its history [5] Business Line Data and Key Metrics Changes - Leisure transient RevPAR was up 2.3% in Q4, while business transient RevPAR decreased by 2.1% due to U.S. government shutdown impacts [5][14] - Group RevPAR increased by 2.6% in Q4, driven by strong international group growth [5][14] - For the full year, net unit growth was 6.7%, with nearly 100,000 new rooms added to the global portfolio [7][10] Market Data and Key Metrics Changes - In the Americas outside the U.S., Q4 RevPAR increased by 3.8% year-over-year, while in Europe, it grew by 5.3% due to strong leisure activity [15] - The Middle East and Africa region saw a 15.9% increase in RevPAR, driven by leisure and group demand [15] - In Asia-Pacific, Q4 RevPAR was up 9.2% excluding China, while RevPAR in China declined by 1.4% [15][16] Company Strategy and Development Direction - The company is focused on expanding its brand portfolio, including the launch of the Apartment Collection by Hilton, targeting the apartment-style lodging segment [9] - The development pipeline reached over 520,000 rooms, with expectations for sustained net unit growth of 6%-7% for 2026 and beyond [10] - The company aims to enhance loyalty and guest satisfaction through initiatives like the Hilton Honors program, which now has nearly a quarter billion members [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2026, expecting stronger economic conditions and improved performance in EMEA and APAC [6][29] - The company anticipates RevPAR growth of 1%-2% for the full year 2026, with positive trends in group bookings and leisure demand [6][17] - Management highlighted macroeconomic factors such as decreasing inflation and increased investment in technology as supportive of future growth [21][25] Other Important Information - The company opened nearly 200 hotels in Q4, totaling nearly 26,000 rooms, and celebrated several milestones in brand expansion [6][7] - The company was named the number one world's best workplace by Fortune for 2025, marking a significant achievement in employee satisfaction [11] Q&A Session Summary Question: Overview of the broader economy and lodging industry - Management noted optimism for 2026, citing macroeconomic improvements and potential for middle-class wage growth, which could increase disposable income and spending [19][26] Question: AI and technology partnerships - Management discussed ongoing efforts in AI, emphasizing a modern tech stack that allows for greater flexibility and efficiency in operations and customer experience [32][34] Question: Growth of lifestyle and luxury brands - Management confirmed that as the network of lifestyle and luxury brands expands, market share and economic performance are expected to improve, creating a positive feedback loop [41][46] Question: Development environment and key money usage - Management indicated a disciplined approach to key money, with a focus on maintaining competitive advantages while navigating market dynamics [51][55] Question: RevPAR guidance and quarterly cadence - Management acknowledged the complexity of the upcoming year but expressed confidence in achieving the guidance range, supported by events like the World Cup [59][60]

Core Insights - Hilton introduces the "Why We Gather" report as part of its 2026 Trends Report, focusing on the evolving nature of meetings and events in the context of technology and AI [1][3] - The report emphasizes the importance of authentic in-person connections, with 84% of attendees wanting to bring their "authentic selves" to work events [2][4] Group 1: Key Findings - The report highlights that attendees are increasingly seeking personal and professional growth opportunities through meetings, with a focus on authentic connections and career advancement [6][14] - Nearly half (49%) of respondents indicate that meeting new people and bonding with their team will be the main reason for attending work events in 2026 [8] - 67% of attendees believe AI assistance during events enhances their experience by saving time and effort [8] Group 2: Wellness and Engagement - Wellness is now a core expectation, with attendees looking for events that help them recharge and feel balanced, integrating wellness into every aspect of the gathering [7][15] - 76% of respondents enjoy work-organized wellness activities, while 38% prefer to spend their free time recharging alone [15] - Two-thirds (67%) feel less engaged during events without downtime, with 55% skipping sessions to decompress if no breaks are planned [15] Group 3: Cultural and Emotional Drivers - The report captures the emotional and cultural motivations behind gatherings, indicating that attendees value local culture and meaningful moments that cannot be replicated online [5][14] - 84% of attendees agree that experiencing local culture is a significant benefit of attending work-related events [8] - 83% are highly conscious of appearing productive during meetings, reflecting the pressure to maintain professional appearances [8] Group 4: Hilton's Commitment - Hilton aims to empower customers with tools and resources to design impactful experiences that foster meaningful connections [4][9] - The company continues to lead in providing resources for planners, including the "World's Most Welcoming Events Playbook" and various meeting packages [9][12] - Hilton's research, conducted in partnership with Ipsos, surveyed over 3,000 adults across the U.S., U.K., and India, providing a global perspective on the meetings and events experience [4][11]

Core Viewpoint - Hilton is launching a new lodging category called Apartment Collection by Hilton, which will offer unique, spacious furnished apartments, expected to be available for booking in the first half of 2026 [1][5]. Group 1: Partnership and Growth - The partnership with Placemakr will add up to 3,000 new apartment-style units to Hilton's existing inventory of approximately 10,000 units, with plans for significant growth in the apartment-style segment through additional franchise agreements [2][4]. - Placemakr brings expertise in the furnished apartment sector, leveraging its operational model to convert multi-family properties into furnished short-term rentals, which aligns with Hilton's growth strategy in this expanding market [4][8]. Group 2: Product Offering - Apartment Collection by Hilton will feature a range of furnished apartments from studio to four-bedroom units, designed for various stay occasions, including family getaways and extended business trips [3][6]. - Each property will include chef-ready kitchens, spacious living areas, on-site laundry, and access to amenities such as fitness centers and communal spaces, enhancing the guest experience [3][6]. Group 3: Brand Integration and Loyalty - The new brand will maintain Hilton's trusted quality standards and will be integrated into Hilton's booking and loyalty systems, allowing guests to earn and redeem Hilton Honors Points [5][8]. - The Apartment Collection will be available in key urban destinations, including New York City, Washington, D.C., and Atlanta, ensuring guests have access to sought-after locations [5][6].

Core Viewpoint - Hilton Worldwide Holdings Inc. has authorized a $3.5 billion increase in its stock repurchase program, raising the total authorized amount for future repurchases to approximately $4.6 billion [1][2]. Company Overview - Hilton is a leading global hospitality company with a portfolio of 25 brands, encompassing 9,000 properties and over 1.3 million rooms across 141 countries and territories [4]. - The company has welcomed over 3 billion guests in its more than 100-year history and aims to create a positive culture for its 500,000 team members worldwide [4]. - Hilton has implemented technology enhancements to improve guest experiences, including features like Digital Key Share and automated room upgrades [4]. Stock Repurchase Program - The stock repurchase program allows Hilton to buy shares in the open market or through privately negotiated transactions, subject to SEC regulations [2]. - The timing and amount of repurchases will depend on factors such as liquidity, cash flow, and market conditions, and the program can be suspended or discontinued at any time [2].

Core Viewpoint - Hilton Worldwide Holdings Inc. is set to report its fourth quarter and full year 2025 financial results on February 11, 2026, before the stock market opens, followed by a conference call to discuss performance [1]. Group 1: Financial Reporting - The financial results will be announced before the stock market opens on February 11, 2026 [1]. - A conference call will take place at 9 a.m. EST, featuring Hilton's president and CEO Christopher J. Nassetta and CFO Kevin Jacobs [1]. Group 2: Participation Details - Participants can listen to the live webcast on the Hilton Investor Relations website, with a replay and transcript available within 24 hours [2]. - A telephone replay will be accessible for seven days following the call, with specific dialing instructions provided for both U.S. and international participants [2]. Group 3: Company Overview - Hilton is a leading global hospitality company with a portfolio of 25 brands, 9,000 properties, and over 1.3 million rooms across 141 countries [3]. - The company has welcomed over 3 billion guests in its history and aims to create a positive culture for its 500,000 team members [3]. - Hilton has implemented technology enhancements to improve guest experiences, including features like Digital Key Share and automated room upgrades [3].

Core Insights - A recent Hilton survey reveals that over half of Americans make excuses to shorten their holiday visits with family, indicating a desire for more personal space during the holiday season [1][6] Survey Findings - The survey, conducted by Hilton in partnership with Morning Consult, involved 2,200 adults, with 15% planning to stay overnight with family during the holidays [2][11] - Key frustrations among travelers include the lack of dedicated beds, private bathrooms, and personal space [2] - 63% of holiday hosts report feeling exhausted, and 46% would prefer guests to stay elsewhere to enjoy the season more [2] Guest Experiences - 36% of holiday guests report sleeping in places other than a bed, such as couches or air mattresses [6] - 32% of guests indicate they sleep worse than usual when staying with relatives [6] - 38% express a need for alone time within 24 hours of arrival, while 25% eat breakfast options they dislike [6] Holiday Traditions - Frustrating holiday traditions include imposed bedtimes (44%), matching outfits (43%), and mandatory group activities (39%) [6] Hilton's Holiday Offerings - To address these challenges, Hilton is promoting "The Hilton Sale," offering up to 25% off stays at participating properties for bookings made by December 15, 2025, for stays between November 12, 2025, and April 6, 2026 [3][13] - Hilton resorts provide an alternative for travelers seeking relaxation, featuring properties like Zemi Miches Punta Cana and Waldorf Astoria Costa Rica, which offer luxurious amenities and unique experiences [4][5][7][8][9][10]