The company has reported better than expected results for the fourth quarter and for the full year 2024
Feb 7, 2025
Hilton delivered strong results for both Q4 and the full year of 2024, with system-wide revenue per available room (RevPAR) exceeding expectations. Growth was fueled by robust leisure demand, an increase in business transient groups, and record-breaking expansion efforts. Looking ahead, Hilton remains optimistic about economic conditions, projecting continued growth in 2025 despite industry concerns about potential election-related headwinds.
Key takeaways
- RevPAR growth: Hilton’s system-wide RevPAR increased 3.5% in Q4 and 2.7% for the full year, surpassing company forecasts;
- U.S. market performance: Q4 U.S. RevPAR rose 2.9% due to strong leisure demand and improving business travel, though 2025 U.S. RevPAR is expected to be at the lower end of Hilton’s range;
- Record development: Hilton opened more rooms in 2024 than ever before and signed a record number of new rooms, with luxury and lifestyle hotels comprising about half of the new openings;
- Conversions & spark growth: Conversion properties made up 45% of openings, driven by partnerships like Small Luxury Hotels of the World and growth in Hilton’s Spark brand, which reached 100 hotels;
- Construction milestones: Construction starts in 2024 were the highest in Hilton’s history, up 10% from 2023;
- 2025 outlook: Hilton expects net unit growth of 6%-7% and sees economic optimism post-election, with a potential easing of regulatory challenges.
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