July 25, 2018 / 10:59 AM / a year ago

Hilton raises full-year outlook on rising demand in U.S.

FILE PHOTO: The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David Mdzinarishvili/File Photo

(Reuters) - Hotel operator Hilton Worldwide Holdings Inc (HLT.N) reported a quarterly rise in a key industry measure and raised its full-year earnings forecast on Wednesday, helped by strength in the United States.

Hilton now expects net income attributable to shareholders before special items to be between $2.61 and $2.68 per share in 2018, compared with its previous forecast of $2.57 to $2.66 per share.

Analysts on average were expecting a full-year profit of $2.72 per share, according to Thomson Reuters I/B/E/S.

The owner of the Hilton and Waldorf Astoria hotel chains also lifted the low end of its full-year RevPAR growth guidance range to 3 percent from 2 percent, keeping the top end of the range unchanged at 4 percent.

RevPAR is calculated by multiplying a hotel’s average daily room rate by its occupancy rate.

Net income attributable to Hilton shareholders rose to $217 million, or 71 cents per share, in the second quarter ended June 30, from $150 million, or 46 cents a share, a year earlier.

RevPAR grew 3.5 percent in the United States and 5.9 percent in its international markets.

On an adjusted basis, the company earned 70 cents per share, in line with analysts’ estimates.

Total revenue rose 10.4 percent to $2.29 billion, but missed the average analyst estimate of $2.48 billion.

Reporting by Shravanth Vijayakumar in Bengaluru; Editing by Maju Samuel

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