Hilton Worldwide (HLT) Q3 2026 earnings summary

Executive summary

• Q3 system-wide comparable RevPAR rose 5.8% YoY; net income was $536M, diluted EPS was $2.37 and Adjusted EBITDA was $1.058B.

• Record organic openings supported 6.0% net unit growth; the development pipeline reached 543,100 rooms across 3,869 hotels.

Financial highlights

• Q3 revenue was $3.325B, operating income $909M and net income $536M; diluted EPS was $2.37 and adjusted diluted EPS was $2.45.

• Adjusted EBITDA was $1.058B versus $976M a year earlier; 9M Adjusted EBITDA was $3.013B versus $2.779B.

• 9M revenue was $9.603B versus $8.952B, operating income was $2.445B versus $2.091B, and net income was $1.401B versus $1.163B.

• Management and franchise fee revenues grew 9.5% in Q3 and 8.7% in 9M; franchise and licensing fees rose 10.3% and 10.0%, respectively.

Outlook and guidance

• FY26 RevPAR growth is forecast at 4.0%–4.5%, Adjusted EBITDA at $4.060B–$4.080B, and adjusted diluted EPS at $9.07–$9.13.

• Q4 RevPAR growth is forecast at 3.0%–3.5%, Adjusted EBITDA at $1.047B–$1.067B, and adjusted diluted EPS at $2.32–$2.38.

• Global RevPAR growth for 2027 is viewed directionally at 3%–4%, with business transient expected to lead, followed by group and leisure.

• FY26 net unit growth is expected near the midpoint of the 6.0%–7.0% range; annual growth of 6%–7% is expected over the next several years.

• FY26 capital returns are projected at ~$3.5B; guidance incorporates lower expectations for Middle East performance and timeshare license fees.