Highlights

  • Third quarter 2026 total revenues were $3,325 million, and net income attributable to Hilton stockholders was $536 million, or $2.37 diluted.
  • Non-GAAP Adjusted EBITDA was $1,058 million for the quarter, compared with $976 million in the third quarter of 2025.
  • System-wide comparable RevPAR was $124.70, while Middle East and Africa RevPAR declined 5.6% amid regional conflict.
  • Management expects full-year 2026 Adjusted EBITDA of $4.06 billion to $4.08 billion and RevPAR growth of 4.0% to 4.5%.

Hilton Worldwide Holdings Inc. (NYSE: HLT) shares were trading at USD 340.13 on October 27, 2026, down 3.34%, with a relative volume at time of 2.16. The hospitality company amended its revolving credit facility in March 2026, issued 5.500% 2031 Senior Notes in May 2026, and reported third quarter 2026 results and filed its quarterly report on October 27, 2026 with updated full-year guidance on its earnings call.

Hilton is a Delaware corporation with principal executive offices in McLean, Virginia. It is engaged in managing, franchising and leasing hotels, including resorts and other lodging offerings, and in licensing its intellectual property, including brand names and trademarks. It reports two segments, management and franchise, and ownership. As of September 30, 2026, it had 9,620 properties comprising 1,408,417 rooms in 144 countries and territories, and 270 million members in its Hilton Honors guest loyalty program. Its fiscal year ends December 31.

Third Quarter 2026 Results

For the three months ended September 30, 2026, unaudited total revenues were $3,325 million, compared with $3,120 million in the same quarter of 2025. Ownership revenues were $304 million, compared with $322 million, and the company said the decrease included hotels that underwent or are undergoing renovation.

Operating income was $909 million, compared with $777 million. Net income attributable to Hilton stockholders was $536 million, compared with $420 million, and diluted earnings per share were $2.37, compared with $1.78. For the nine months, revenues were $9,603 million and net income attributable to Hilton stockholders was $1,403 million, or $6.13 per diluted share.

System-wide comparable RevPAR for the quarter was $124.70, occupancy was 75.8% and ADR was $164.57. In the Middle East and Africa, RevPAR was $101.70, a decrease of 5.6%, and the company attributed the decrease to ongoing geopolitical conflict in the Middle East. RevPAR in Asia Pacific decreased 0.5%, and the filing cites declines in China tied to softer consumer sentiment and government restrictions on business and group travel.

Development, Cash Flow and Capital

During the nine months ended September 30, 2026, Hilton opened 520 hotels with 67,400 rooms. Its development pipeline stood at 3,869 hotels with 543,100 rooms, and net unit growth from September 30, 2025 to September 30, 2026 was 6.0 percent.

Net cash provided by operating activities was $1,811 million for the nine months, compared with $1,926 million, which the company attributed primarily to a $401 million increase in income tax payments due to timing. At September 30, 2026, cash and cash equivalents were $830 million, including $56 million of restricted cash. Total indebtedness was approximately $13.5 billion, no amounts were outstanding under the Revolving Credit Facility, and available borrowing capacity was $1,894 million. Total Hilton stockholders' deficit was $6,593 million. The company has $600 million of 2027 Senior Notes due April 2027 and said it believes it has sufficient sources of liquidity to address their repayment.

During the nine months, Hilton repurchased approximately 8.2 million shares for $2,602 million, and approximately $2.2 billion remained available under its repurchase program. It declared cash dividends of $0.15 per share for the third quarter.

Outlook

The 10-Q does not provide numerical guidance. On its October 27, 2026 earnings call, management gave fourth quarter guidance of system-wide RevPAR growth of 3% to 3.5%, Adjusted EBITDA of $1.047 billion to $1.067 billion and diluted EPS adjusted for special items of $2.32 to $2.38.

For the full year 2026, management expects RevPAR growth of 4% to 4.5%, Adjusted EBITDA of $4.06 billion to $4.08 billion and diluted EPS adjusted for special items of $9.07 to $9.13. The guidance ranges do not incorporate future share repurchases. Management said it expects to return approximately $3.5 billion to shareholders in 2026 and that it expects Middle East and Africa RevPAR to decline by a low double digit percentage for the year. It also said license fees in the timeshare segment are not performing at the level it had expected.