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Hilton reports strong Q2 profits
Hilton Hotels Corporation (HHC) has reported total operating income of US$366m (£196m, 673.7m euro) for the six months ending 30 June, an increase of 49 per cent on the same period last year, partly due to a raft of asset sales.
Revenue rose in the latest three months of the period to US$2.2bn (£1.17bn, 1.7bn euro) from US$1.18bn (£632m, 924m euro) and the total company earnings before interest, taxes, depreciation and amortisation were US$489m (£261.7m, 383m euro), an increase of 46 per cent.
Hilton’s total capital expenditure for 2006 is forecasted to be US$860m (£460m, 673.7m euro) and expects to add 225 hotels and 36,000 rooms to its portfolio.
Stephen Bollenbach, co-chair and CEO of HHC, said: “Just a few months after completing the Hilton International transaction, our global business is operating seamlessly, new worldwide technology, product and marketing initiatives are underway, and we are moving to take advantage of the wide range of opportunities to grow our business for the benefit of our shareholders, customers, team members and hotel owners.”
HHC bought Hilton International from the UK-based Hilton Group in February this year for £3.3bn (US$6.1bn, 4.8bn euro). Details: Details: www.hiltonworldwide.com