Hilton Worldwide (HLT) Q2 2026 earnings summary

Executive summary

• Second quarter 2026 results exceeded expectations, with strong top and bottom-line growth, driven by robust travel demand, record development pipeline, and successful new brand launches such as Undergraduate by Hilton.

• Operates 9,453 properties with 1,384,842 rooms in 144 countries as of June 30, 2026; Hilton Honors membership grew 15% year-over-year to 260 million members.

• Net unit growth reached 6.1% year-over-year, with over 200 hotels opened and a pipeline of 541,300 rooms.

• Owner profitability initiatives, including loyalty fee reductions and the RISE program, are enhancing margins and supporting long-term growth.

Financial highlights

• Q2 2026 revenue was $3.34 billion, up 6.5% year-over-year; net income was $482 million, up from $440 million in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $1.054 billion, up from $998 million in Q2 2025 and exceeding guidance.

• Diluted EPS for Q2 2026 was $2.10; adjusted diluted EPS was $2.29.

• Management and franchise fees grew 6.4% year-over-year; franchise and licensing fees rose 8.5%.

• System-wide comparable RevPAR increased 3.9% year-over-year, driven by higher occupancy and ADR.

Outlook and guidance

• Full-year 2026 system-wide RevPAR growth expected at 3%-3.5%, with third quarter above and fourth quarter below the range due to event timing.

• Adjusted EBITDA guidance for full year is $4.04-$4.08 billion; net income projected at $1,883–$1,911 million.

• Diluted EPS for 2026 projected at $8.22–$8.35; adjusted diluted EPS at $8.89–$9.01.

• Net unit growth for 2026 expected between 6.0% and 7.0%, with acceleration in the second half.

• Approximately $3.5 billion expected to be returned to shareholders in 2026 via buybacks and dividends.