Hilton Worldwide Holdings Inc. (HLT) 10-Q Quarterly Report October 2018

MCLEAN, VA (October 24, 2018) - Hilton Worldwide Holdings Inc. ("Hilton" or the "Company") (NYSE: HLT) today reported its third quarter 2018 results. All results herein, including prior year periods, reflect the adoption of new accounting standards, including Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"). Highlights include:


•	Diluted EPS was $0.54 for the third quarter, a 10 percent increase from the same period in 2017, and diluted EPS, adjusted for special items, was $0.77, a 38 percent increase from the same period in 2017


•	Net income for the third quarter was $164 million, a modest increase from the same period in 2017


•	Adjusted EBITDA for the third quarter was $557 million, an increase of 9 percent from the same period in 2017


•	System-wide comparable RevPAR increased 2.0 percent on a currency neutral basis for the third quarter from the same period in 2017


•	Approved 29,200 new rooms for development during the quarter, growing Hilton's development pipeline to more than 371,000 rooms as of September 30, 2018, representing 11 percent growth from September 30, 2017


•	Opened 16,100 rooms in the third quarter and achieved net unit growth of 14,800 rooms, which was a 24 percent increase from the same period in 2017


•	Launched urban, lifestyle micro-hotel brand, Motto by Hilton


•	Repurchased over 1.5 million shares of Hilton common stock for an aggregate cost of $122 million during the third quarter


•	Returned $1.7 billion to stockholders through October in the form of share repurchases and dividends


•	Full year 2018 system-wide RevPAR is expected to increase between 3.0 percent and 3.5 percent on a comparable and currency neutral basis compared to 2017; Full year 2018 Adjusted EBITDA is expected to be between $2,075 million and $2,095 million


•	Full year 2019 system-wide RevPAR is expected to increase between 2.0 percent and 4.0 percent on a comparable and currency neutral basis compared to 2018; net unit growth is expected to be approximately 6 percent to 7 percent

The following information was filed by Hilton Worldwide Holdings Inc. (HLT) on Wednesday, October 24, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hilton Worldwide Holdings Inc.'s 10-Q Quarterly Report:

Financial - Expense Highlight
The decrease in depreciation and amortization expense during the

Financial - Expense Highlight
Our known short-term liquidity requirements primarily consist of funds necessary to pay for operating and other expenditures, including costs associated with the management and franchising of hotels, corporate expenses, payroll and related benefits, taxes and compliance costs, interest payments on our outstanding indebtedness, contract acquisition costs and capital expenditures for renovations and maintenance at the hotels within our ownership segment.
Other - Other Highlight
Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as discretionary cash available to us to reinvest in the growth of our business or as measures of cash that will be available to us to meet our obligations.
Other - Other Highlight
We believe that EBITDA and Adjusted EBITDA provide useful information to investors about us and our financial condition and results of operations for the following reasons: i these measures are among the measures used by our management team to evaluate our operating performance and make day-to-day operating decisions and ii these measures are frequently used by securities analysts, investors and other interested parties as a common performance measure to compare results or estimate valuations across companies in our industry.
Financial - Expense Highlight
The changes in general and administrative expenses during the three and nine months ended September 30, 2018 were the result of decreases in costs associated with the spin-offs of $2 million and $17 million, respectively, and severance costs related to the 2015 sale of the Waldorf Astoria New York of $2 million and $8 million, respectively.
M & A - Other
During the first quarter of...Read more
Other - Other
By increasing the number of...Read more
Financial - Expense
We believe that this cash...Read more
Financial - Expense
On a currency neutral basis,...Read more
Financial - Debt
Our long-term liquidity requirements primarily...Read more
Financial - Debt
Such forward-looking statements are subject...Read more
M & A - Other
Depreciation and amortization, as well...Read more
Financial - Expense
The increases in interest expense...Read more
Other - Other
We define our comparable hotels...Read more
Revenue - Product
Management and franchise segment revenues...Read more
Other - Other
However, depending on the amount...Read more
Other - Other
other companies in our industry...Read more
Revenue - Product
Changes in the estimates used...Read more
Other - Other
In some cases, you can...Read more
Financial - Earnings
The table below provides a...Read more
Other - Other
The $606 million decrease in...Read more
Other - Other
Accordingly, there are or will...Read more
Financial - Expense
Our capitalized software costs related...Read more
Financial - Expense
Other expenses decreased during the...Read more
Financial - Income
Other non-operating income, net increased...Read more
Other - Other
Certificate of Amendment to Certificate...Read more
Financial - Earnings
EBITDA and Adjusted EBITDA have...Read more
Other - Other
As new hotels stabilize in...Read more
Other - Other
ADR measures average room price...Read more
Other - Other
We believe that excluding these...Read more
Revenue - Product
ADR is a commonly used...Read more
Revenue - Product
Other revenues increased during the...Read more
Other - Other
Management fees remained relatively consistent...Read more
Other - Other
Based on that evaluation, the...Read more
Revenue - Geography
We are exposed to market...Read more
Financial - Expense
The changes in owned and...Read more
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Refer to Revenues for...Read more
Financial - Expense
These increases were offset by...Read more
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The increases in income tax...Read more
Other - Other
Additionally, strong ADR in Japan...Read more
Financial - Debt
partially offset by the accelerated...Read more
Financial - Debt
The loss on debt extinguishment...Read more
Other - Other
During the three and nine...Read more
Revenue - Product
On a currency neutral basis,...Read more
Legal - Other
We currently believe that the...Read more
Other - Other
In accordance with Rule 13a-15b...Read more
Revenue - Product
As of September 30, 2018,...Read more
Financial - Dividend
Further, we have an investment...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Hilton Worldwide Holdings Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.1: 2019 Executive Severance Plan

Exhibit 12: Ratio Of Earnings To Fixed Charges

Exhibit 31.1: Section 302 Certification

Exhibit 31.2: Section 302 Certification

Exhibit 32.1: Section 906 Certification

Exhibit 32.2: Section 906 Certification

Ticker: HLT
CIK: 1585689
Form Type: 10-Q Quarterly Report
Accession Number: 0001585689-18-000143
Submitted to the SEC: Wed Oct 24 2018 11:25:44 AM EST
Accepted by the SEC: Wed Oct 24 2018
Period: Sunday, September 30, 2018
Industry: Hotels And Motels

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Hilton Worldwide Holdings Inc. (HLT) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

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