BEVERLY HILLS, CA Hilton Hotels Corp. reported strong results for both the fourth quarter and fiscal year ended December 31, 2000. The results were highlighted by significant increases in RevPAR as well as gains in EBITDA. Financial information for 1999 is presented on a pro forma basis as if the companys acquisition of Promus Hotel Corp. has occurred on January 1, 1999.
Hilton reported a net income for the fourth quarter of $64 million, or $0.17 per diluted share, compared to $25 million, or $0.07 per diluted share, for the same period a year ago. For the full year, Hilton reported net income was $272 million, compared to $216 million in 1999.
Comparable RevPAR at the companys U.S. owned-or-operated hotels increased 7.4% during the quarter, and was achieved despite severe weather conditions in December that affected business and leisure travel in certain U.S. markets. The RevPAR gains was a result of occupancy increasing 1.8 points to 68.2%, and a 4.7% increase in ADR to $137.48. Within the Hilton full-service brand, RevPAR increased 7.8% for the quarter, as a result of a 3 point gain in occupancy to 71.5% and a 3.2% improvement in ADR to $175.94.
Across all brands, EBITDA from the companys owned hotels in the fourth quarter totaled $219 million, with comparable EBITDA up 13.4%. For the full year, EBITDA from the companys owned hotels totaled $858 million, with comparable EBITDA up 13.6%. (1/24/01)