Feb 27 Hilton Worldwide Holdings Inc,
the world's largest hotel operator, reported a 13 percent rise
in quarterly revenue as increasing business and leisure travel
pushed up occupancy and room rates.
Net income attributable to stockholders fell to $26 million,
or 3 cents per share, in the fourth quarter ended Dec. 31 from
$61 million, or 7 cents per share, a year earlier.
Expenses soared 23 percent to $2.55 billion.
The hotel and travel industry in the United States, from
where Hilton gets most of its revenue, has benefited from
returning confidence in the economy.
PricewaterhouseCoopers said in December it expected room
rates and occupancy to rise further in 2014.
Hilton reported a 4.7 percent rise in total revenue per
available room (RevPAR) at hotels open at least one year.
RevPAR is calculated by multiplying a hotel's average daily
room rate by its occupancy rate.
Hilton's revenue rose to $2.64 billion from $2.34 billion.
Hilton, founded in 1919 by Conrad Hilton, went public in
December and raised more than $2.3 billion in 2013's
The company, whose brands include such high-end names as
Conrad and Waldorf Astoria, operates in 90 countries and has
more than 4,000 hotels and 670,000 rooms under its umbrella.
Hilton's shares closed at $22.54 on the New York Stock
Exchange on Wednesday. They have gained 2 percent since their
debut on Dec. 13.