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Hilton reports record Pipeline and Net Unit Growth in 2016

Friday, February 17, 2017, 18:30 Hrs  [IST]
HBI Staff |New Delhi

Hilton Worldwide Holdings Inc., released its fourth quarter and full year 2016 results globally and reported a growth in development pipeline of 16 percent in 2016 to 1,968 hotels, consisting of 310,000 rooms, 50 percent of which are under construction .

The hotel company also reported a net unit growth of 45,000 rooms in 2016, representing a 6.6 percent growth in managed and franchised rooms. The hotel company has 354 hotels to its system in 2016, opening nearly one hotel per day in the year. The hotel company also launched its newest brand, Tapestry Collection by Hilton, in January 2017.

For the three months ended December 31, 2016, the company reported diluted loss per share at $1.17 compared to diluted earnings per share ( EPS ) of $2.47 for the three months ended December 31, 2015, and diluted EPS, adjusted for special items, was $0.70 for the three months ended December 31, 2016 compared to $0.65 for the three months ended December 31, 2015. Net loss was $382 million for the three months ended December 31, 2016 compared to net income of $816 million for the three months ended December 31, 2015, and Adjusted EBITDA was $751 million for the three months ended December 31, 2016 compared to $745 million for the three months ended December 31, 2015.

 During the three months ended December 31, 2016, the Company incurred an aggregate tax charge of $513 million related to a corporate restructuring executed before the spin-offs, resulting in a net loss for the period. The event had no effect on cash taxes for the quarter.

For the year ended December 31, 2016, diluted EPS was $1.05 compared to $4.26 for the year ended December 31, 2015, and diluted EPS, adjusted for special items, was $2.68 for the year ended December 31, 2016 compared to $2.44 for the year ended December 31, 2015. Net income was $364 million for the year ended December 31, 2016 compared to $1,416 million for the year ended December 31, 2015, and Adjusted EBITDA was $2,975 million for the year ended December 31, 2016 compared to $2,879 million for the year ended December 31, 2015.

Releasing the results, Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, "For the quarter and full year, performance met our expectations. We also continued to increase our development activity this quarter and surpassed development records this year, approving 106,000 new rooms and opening nearly one hotel per day, contributing to net unit growth of over 45,000 rooms. With completion of the spin-offs, Hilton is a fee-based, capital-efficient and resilient business, with meaningful cash flow that we intend to be very disciplined in returning to stockholders."

 
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