02/07/2024

Hilton Worldwide 2024 Profit Forecast Hit by Normalizing Travel

The company expects full-year revenue per available room to rise this year

On Wednesday, Hilton Worldwide forecast its full-year profit, which fell short of lofty market expectations as travel demand normalizes after beating analysts' estimates for fourth-quarter earnings.

U.S. hotel operators benefited from pent-up leisure travel demand in the years following the pandemic; however, this quarter Hilton said it benefited from higher licensed fees and the recovery of group and convention travel.

"Deceleration is natural after a few strong years of growth recovery. Travel demand has normalized not weakened," said Morningstar analyst Dan Wasiolek.

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