Hilton Worldwide (HLT) Investor presentation summary

Value proposition and brand portfolio

• Operates ~9,200 properties with ~1.35 million rooms across 143 countries and territories, offering a diverse range of brands from luxury to midscale segments.

• Achieves a 15% global RevPAR index premium, reflecting strong brand performance and network effects.

• Hilton Honors loyalty program has grown to 243 million members, driving ~67% of system occupancy and offering innovative features and partnerships.

• Satisfied owners and customers reinforce organic net unit growth and market share gains.

Simplified, fee-based business model

• Approximately 95% of adjusted EBITDA is generated from fee revenues, with 80% from franchise and licensing fees.

• Management and franchise fees grew from $814M in 2009 to $3,575M in 2025, with a 10% CAGR.

• Fee-based model supports free cash flow of ~50% of adjusted EBITDA, with minimal capital investment.

• Net unit growth guidance for 2026 is 6.0%-7.0%.

High-quality pipeline and global development

• Pipeline includes ~520,000 rooms, representing a leading 20% share of industry rooms under construction.

• Over 90% of pipeline deals require no contract acquisition costs, with Hilton's investment at ~$500M and third-party investment exceeding $60B.

• Illustrative stabilized pipeline could generate ~$1B in adjusted EBITDA and ~$16B in value creation.

• Development market share is over 3x larger than current share, with significant growth in all global regions.

• Net unit growth has been consistently strong, with conversions representing a significant portion of new openings.