As of July 21, 99% of Hilton’s hotels worldwide are open and
occupancy and average daily rates are up, helping the company’s system-wide revenue
per available room increase more than 230% in the second quarter of 2021
compared to the same period in 2020.
Net income for the second quarter of 2021 was $128 million
and adjusted EBITDA was $400 million, compared to a net income loss of $432
million and adjusted EBITDA of $51 million for the same period in 2020.
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In a statement releasing the latest financial results,
Hilton CEO Chris Nassetta says, “We are excited about our strong second quarter
performance, which reflects our ongoing recovery from the negative effects of
the COVID-19 pandemic.
The broader distribution of vaccinations and the easing
of travel and other restrictions have allowed for renewed interest in travel
and tourism, with families embarking on long-delayed trips and businesses
scheduling in-person meetings again.
While the pace of recovery varies by
region, particularly with the uncertainty surrounding coronavirus variants, we
expect continued strength in leisure demand and further upticks in business
travel to drive continued resurgence in the back half of the year. We are also
increasingly optimistic on our development, with net unit growth for the full
year expected to be between 5% and 5.5%.”
In the second quarter of 2021, Hilton opened 119 new hotels
totaling over 19,800 rooms. The company also reports a record amount of
conversion signings during the quarter.
As of June 30, Hilton's development pipeline totaled nearly
2,590 hotels representing 401,000 rooms throughout 115 countries and
territories, including 30 countries and territories where Hilton does not
currently have any existing hotels.