BEVERLY HILLS, CA Hilton Hotels Corp. reported that in the quarter ended March 31, 2001 net income was $55 million, compared to $58 million for the same quarter a year ago. Diluted net income per share was $0.15 compared to $0.16 last year.
Recurring net income per share was $0.15 for the first quarter 2001, representing a 25% increase over the $0.12 posted last year. Comparable RevPAR at the companys U.S. owned or operated hotels increased 4.2% during the quarter, with occupancy increasing to 70.6 % and ADR improving 3.9% to $141.41.
Hilton noted that first quarter results were adversely impacted by comparative softness in New York and San Francisco, increased energy costs, and an extensive renovation project at the Hilton New Orleans. (4/25/01)