International drives Hilton 4Q25 results

McLEAN, Virginia – Hilton reported a slight beat of Street estimates for 4Q25 with better-than-expected 7% RevPAR growth in international markets driving performance. In The U.S. RevPAR was -1.6%, which is actually better than some analysts’ expectations. For the three months ended December 31, 2025, system-wide comparable RevPAR increased 0.5% compared to the same period in 2024 due to an increase in ADR, partially offset by modest occupancy declines.

For 4Q25, adjusted EBITDA was $946 million versus Street expectations of $925 million.

For 2026, Hilton published guidance that includes 1% t0 2% global RevPAR growth, 6% to 7% unit growth and 7.5% to 8.5% adjusted EBITDA growth, which R.W. Baird analyst Michael Bellisario is being driven by the 4Q25 earnings outperformance and lower cash G&A expense guidance.

For 1Q26, Hilton said system-wide comparable RevPAR, on a currency neutral basis, is projected to increase between 1.0% and 2.0% compared to the first quarter of 2025. Adjusted EBITDA is projected to be between $875 million and $895 million.

Chris Nassetta, president and CEO of Hilton stated, “We delivered another quarter of strong bottom-line results, demonstrating the continued strength of our business model. As we look ahead to 2026, we are increasingly optimistic about the tailwinds building, including improving demand patterns, driven by broader macroeconomic growth and major global and domestic events, which, when paired with limited supply growth, should result in stronger RevPAR performance.”

Hilton opened 190 hotels in 4Q25, totaling 26,000 rooms, resulting in 21,300 net room additions. Notable openings included the Waldorf Astoria Shanghai Qiantan in China and over 10 Tapestry Collection hotels, which also saw nearly 20 signings in the quarter.

Hilton added 37,400 rooms to the development pipeline during the fourth quarter, and, as of December 31, 2025, its development pipeline totaled 3,703 hotels representing 520,500 rooms with almost half were under construction and more than half were located outside of the U.S.