Hilton lifts 2024 profit forecast on international travel demand

By Thomson Reuters Apr 24, 2024 | 5:10 AM

(Reuters) -Hotel operator Hilton Worldwide raised its annual adjusted profit forecast on Wednesday, banking on international travel demand to offset normalizing domestic travel in the U.S.

The company forecast 2024 adjusted profit of between $6.89 and $7.03 per share, up from the previously forecast $6.80 to $6.94 per share.

International travel demand is expected to remain strong this year as global air connectivity increases and travelers flock to Asian and Latin American countries, while demand for domestic travel plateaus in North America.

Hilton, which also owns brands such as Waldorf Astoria Hotels & Resorts, reported quarterly revenue per available room (RevPAR) of $104.16, up 2% from the same period last year.

(Reporting by Aishwarya Jain in Bengaluru and Doyinsola Oladipo in New York; Editing by Milla Nissi)