Hilton lifts 2024 profit forecast on international travel demand

HOTEL operator Hilton Worldwide raised its annual adjusted profit forecast on Wednesday (Apr 24), banking on international travel demand to offset normalizing domestic travel in the US

The company forecast 2024 adjusted profit of between US$6.89 and US$7.03 per share, up from the previously forecast US$6.80 to US$6.94 per share.

International travel demand is expected to remain strong this year as global air connectivity increases and travelers flock to Asian and Latin American countries, while demand for domestic travel plateaus in North America.

Hilton, which also owns brands such as Waldorf Astoria Hotels & Resorts, reported quarterly revenue per available room (RevPAR) of US$104.16, up 2 per cent from the same period last year. REUTERS