REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsOct 25 (Reuters) - Hilton Worldwide Holdings (HLT.N) beat Wall Street estimates for third-quarter revenue and lifted its annual forecast on Wednesday, as record lodging prices and higher occupancy levels boosted results.
Hotel and resort operators are benefiting from the global rebound in travel as consumers continue to plan vacations despite inflation and the higher cost of travel compared to pre-pandemic.
Hilton's revenue per available room in the third quarter saw significant recovery in Asia, up 65.5% compared to the year earlier.
The company's third-quarter revenue rose to $2.67 billion, exceeding the average Wall Street estimate of $2.64 billion, according to LSEG data.
It expects full-year revenue per room to increase between 12.0% and 12.5% compared to 2022.
Persons:
Brendan McDermid, Christopher Nassetta, Hilton, Priyamvada, Shounak Dasgupta, Shilpi Majumdar
Organizations:
New York Stock Exchange, REUTERS, Hilton Worldwide Holdings, Hilton, Waldorf Astoria Hotels & Resorts, Marriott International, Thomson
Locations:
New York, U.S, Asia, Bengaluru, Doyinsola