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Hilton
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Updated Oct 27, 2026
Hilton Q3 2026: Record Organic Openings, 5.8% System RevPAR Growth, and 2027 Global RevPAR Guided to 3-4%
Hilton delivered its largest quarter of organic room openings in company history in Q3 2026, adding over 27,000 rooms, while system-wide RevPAR rose 5.8% year-over-year on combined rate and occupancy gains that exceeded management expectations. Adjusted EBITDA of $1.058 billion beat the high end of guidance, with management and franchise fees up 9.5%. CEO Nassetta provided directional 2027 global RevPAR guidance of 3-4%, grounded in a 3.5% current run rate, anticipated normalization in Mexico and the Middle East, and continued non-residential fixed investment tailwinds driving business transient demand toward pre-COVID levels.
Tone: bullishRevenue
$12B
HLT 10-K · FY 2025
Employees
182,000
Revenue FY2024
$11.2B
Founded
1919
Profile
HLT 10-K Item 1 · Feb 11, 2026Hilton is one of the largest global hospitality companies, operating 9,158 properties with 1,351,351 rooms across 143 countries and territories as of December 31, 2025. The company operates through two segments: a capital-light management and franchise segment that earns fees from third-party hotel owners and licensees, and a smaller ownership segment comprising 46 consolidated hotels. Hilton's 243-million-member Hilton Honors loyalty program anchors its commercial platform.
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Hilton is one of the largest global hospitality companies, with 9,158 properties comprising 1,351,351 rooms in 143 countries and territories as of December 31, 2025. Founded in 1919, Hilton has been an innovator in the industry for over 105 years, driven by the vision of founder Conrad Hilton 'to fill the earth with the light and warmth of hospitality.' Our premier brand portfolio includes luxury, lifestyle, full service, focused service and all-suites hotel brands, as well as timeshare brands. As of December 31, 2025, we had 243 million members in our award-winning guest loyalty program, Hilton Honors, an increase of 15 percent from December 31, 2024. We operate our business through: (i) a management and franchise segment and (ii) an ownership segment. The management and franchise segment includes all of the hotels we manage for third-party owners, as well as all properties that license our intellectual property and/or use our booking channels and related programs. Revenues from this segment include management and franchise fees charged to third-party hotel owners, licensing fees from strategic partners including co-branded credit card providers and HGV, and fees for managing hotels in our ownership segment. The ownership segment primarily derives revenues from nightly hotel room sales, food and beverage sales and other services at our consolidated hotels. In addition to our current hotel portfolio, we are focused on the growth of our business by expanding our global hotel network through our development pipeline, which had 3,703 hotels and 520,500 rooms as of December 31, 2025.
Primary products
- Waldorf Astoria Hotels & Resorts
- Conrad Hotels & Resorts
- LXR Hotels & Resorts
- NoMad
- Signia by Hilton
- Canopy by Hilton
Business segments
End markets
Geographies
Named customers
Named competitors
“We believe that our capabilities as a multi-branded manager, franchisor and lessee of hotels with an associated global, system-wide guest loyalty program and commercial platform help us continue to maintain our position as one of the largest and most geographically diverse hospitality companies in the world.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues grew from $11,174 million in 2024 to $12,039 million in 2025, driven primarily by higher franchise and licensing fees and increased cost reimbursement revenues.
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