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Hilton Worldwide Holdings Inc. (HLT-1.55%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Hilton's financial performance, with total revenues of $11.2 billion, an increase from $10.2 billion in the previous year. This growth was driven by increases in franchise and licensing fees, as well as management fees.
Hilton reported a net income of $1.5 billion for the year, compared to $1.1 billion in 2023. The increase in net income was primarily due to higher revenues and a decrease in income tax expense.
The company expanded its hotel network, with 973 new hotel openings and a net addition of 904 hotels, bringing the total to 8,447 properties worldwide.
Hilton's adjusted EBITDA for 2024 was $3.4 billion, up from $3.1 billion in 2023, reflecting improved operating performance across its segments.
The filing also highlights Hilton's focus on sustainability and corporate responsibility through its Travel with Purpose strategy, aiming to reduce environmental impact and support community resilience.
Hilton continues to face risks related to macroeconomic conditions, competition, and regulatory changes, as noted in the risk factors section of the filing.
The company maintains a strong liquidity position with $1.4 billion in cash and cash equivalents and access to additional financing through its revolving credit facility.
Hilton's board of directors authorized a stock repurchase program, with $4.4 billion remaining available for repurchases as of December 31, 2024.
The filing concludes with Hilton's commitment to enhancing guest experiences through its Hilton Honors loyalty program, which saw membership increase to 211 million members.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Hilton Worldwide Holdings Inc. annual 10-K report dated February 6, 2025. To report an error, please email earnings@qz.com.