HLT
Updated: 22/09/2026, 17:42:22
Hilton Worldwide Holdings Inc., a hospitality company, engages in managing, franchising, and leasing hotels and resorts. It operates in two segments, Management and Franchise, and Ownership. The company engages in the hotel management and licensing of its brand names, trademarks, and service marks. It operates a brand portfolio of luxury, lifestyle, full service, focused service, all-suites hotel, and timeshare under the Waldorf Astoria Hotels & Resorts, LXR Hotels & Resorts, Conrad Hotels & Resorts, Signia by Hilton, NoMad, Canopy by Hilton, Graduate by Hilton, Tempo by Hilton, Motto by Hilton, Hilton Hotels & Resorts, DoubleTree by Hilton, Curio Collection by Hilton, Tapestry Collection by Hilton, Outset Collection by Hilton, Embassy Suites by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton, LivSmart Studios by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Spark by Hilton, Hilton Grand Vacations, Small Luxury Hotels of the World, AutoCamp, and Hilton Honors brand names. The company has operations in North America, South America, and Central America, including various Caribbean nations; Europe, the Middle East, and Africa; and the Asia Pacific. Hilton Worldwide Holdings Inc. was founded in 1919 and is headquartered in McLean, Virginia.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
$12.0B
FY 2025 · Reported
Net income
$1.5B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
$2.0B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
$3.2B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Company overview
One of the largest global hospitality companies: 9,158 properties, 1,351,351 rooms in 143 countries and territories as of December 31, 2025; 243 million Hilton Honors members (+15% YoY)
“Hilton is one of the largest global hospitality companies, with 9,158 properties comprising 1,351,351 rooms in 143 countries and territories as of December 31, 2025.”
Reportable segments
Two reportable segments: (i) management and franchise and (ii) ownership
“Our operations consist of two reportable segments that are based on similar products and services: (i) management and franchise and (ii) ownership.”
Ownership revenue customer categories
Ownership revenues primarily from transient and group customers; group includes meetings, conferences and social functions with meeting/catering services
“These revenues are primarily derived from two categories of customers: transient and group.”
Ownership segment revenue
Ownership segment derives revenues from nightly hotel room sales, food and beverage sales and other services at consolidated hotels
“The ownership segment primarily derives revenues from nightly hotel room sales, food and beverage sales and other services at our consolidated hotels.”
Hilton Honors loyalty program
243 million Hilton Honors members (+15% YoY); points redeemable with partners including American Express, airlines, Amazon, Lyft
“As of December 31, 2025, we had 243 million members in our award-winning guest loyalty program, Hilton Honors, an increase of 15 percent from December 31, 2024”
Fee structures
Franchise fees: monthly royalty on gross room revenue plus application/initiation fees; management fees: base fee on gross operating revenue plus incentive fees on operating profits
“franchisees typically pay us franchise fees that include: (i) monthly royalty fees, generally based on a percentage of the hotel's monthly gross room revenue”
Other revenues from purchasing operations
Other revenues primarily generated by purchasing operations, including retained vendor rebates
“Purchasing revenues include any amounts we expect to retain for vendor rebate arrangements related to purchases made directly by leased, managed and franchised properties”
U.S. share of system-wide rooms
U.S. represented 64% of system-wide hotel rooms as of December 31, 2025; business analyzed across Americas, EMEA, and Asia Pacific regions
“the U.S., which represented 64 percent of our system-wide hotel rooms as of December 31, 2025, is included in the Americas region”
Management and franchise segment revenue sources
Management and franchise fees, licensing fees from strategic partners (co-branded credit cards, strategic partner hotels, HGV), and intra-segment management fees
“Revenues from this segment include: (i) management and franchise fees charged to third-party hotel owners; (ii) licensing fees from our strategic partners, including co-branded credit card providers and strategic partner hotels, and HGV; and (iii) fees for managing the hotels in our ownership segment.”
Named competitors
Named competitors across chains include Marriott, Hyatt, Four Seasons, Ritz-Carlton, Intercontinental, Holiday Inn, Best Western, Wyndham and timeshare operators
“These selected competitors exclude lesser-known regional competitors.”
Development activity FY2025
FY2025: 796 openings (97,000 rooms); net unit growth 6.7%; pipeline of 3,703 hotels / 520,500 rooms; >half of pipeline rooms outside U.S.
“Net unit growth for the year ended December 31, 2025 was 6.7 percent.”
Asset-light fee-based growth
Growth via management/franchise contracts requiring minimal capital investment; owners fund hotel capital
“we expand our business with limited or no capital investment by us as the manager, franchisor or licensor, since the capital required to build, renovate and maintain hotels is typically provided by the third-party owners”
Relatively fixed expenses
Labor, interest, rent, property taxes, insurance and utilities are relatively fixed costs during demand downturns
“many of the expenses associated with our services, including labor and personnel costs, interest, rent, property taxes, insurance and utilities, are relatively fixed.”
Indebtedness
Total indebtedness ~$12.5 billion as of Dec 31, 2025; maturities of $25M (2026), $619M (2027), $12M (2028); credit agreement requires secured net leverage ratio ≤5.0x
“our total indebtedness, excluding the deduction for unamortized deferred financing costs and discount, was approximately $12.5 billion”
Growth strategy challenges
Elevated inflation and interest rates have caused and may continue to cause delays in openings and new development
“The current economic environment, including elevated levels of inflation and interest rates, has posed certain challenges to the execution of our growth strategy”
Goodwill by reporting unit
Goodwill attributable solely to management and franchise reporting unit, no accumulated impairment losses
“our goodwill balances were only attributable to our management and franchise reporting unit, which had no accumulated impairment losses as of either date.”
Demand-side macro/geopolitical/public health risks
Demand can be reduced by macro conditions, pandemics, geopolitical conflict, government shutdowns, corporate travel budget cuts, disasters and labor shortages
“Macroeconomic conditions, geopolitical activity, public health concerns and other factors beyond our control can adversely affect and reduce demand for our products and services.”
Hospitality industry operating risks
Hospitality risks include competition, owner relationships, virtual meetings reducing business travel, inflation, labor shortages, cyclical over-building, and internet intermediaries
“We are subject to the business, financial and operating risks inherent to the hospitality industry, any of which could reduce our revenues and limit opportunities for growth.”
Competition risk
Intense competition from major chains, smaller chains, independents, home/apartment sharing services and timeshare operators
“We also compete against smaller hotel chains, independent and local hotel owners and operators, home and apartment sharing services and timeshare operators.”
Technology/AI risk
Failure to keep pace with AI and technology developments could hurt operations or competitive position
“Failure to keep pace with developments in technology, including artificial intelligence ("AI"), could adversely affect our operations or competitive position;”
Cybersecurity/IT risk
Cyber-attacks on Hilton or third-party operational systems and data security costs could have material adverse effects
“Failures in, material damage to or interruptions in our information technology systems, software or websites, including as a result of cyber-attacks on our systems or systems operated by third parties”
Internet reservation channel risk
Growth of internet travel intermediaries could raise commissions, divert bookings from direct channels, and increase cost of sales; LLMs entering travel bookings cited
“Consolidation of internet travel intermediaries, or the entry of major technology platforms, such as large language models, into the internet travel bookings business, also could divert bookings away from our direct channels and increase our hotels' cost of sales.”
Regulatory exposure — marketing and data privacy
Subject to marketing/advertising and data privacy laws including TCPA, CAN-SPAM, California privacy laws and GDPR
“international data protection laws, such as the E.U. General Data Protection Regulation ("GDPR"), and laws limiting the cross-border transfer of data”
Acquisition and partnership risk
2024: acquired Graduate brand, invested in NoMad, partnered with Small Luxury Hotels of the World and AutoCamp; acquisitions face antitrust scrutiny
“in 2024 we acquired the Graduate hotel brand, invested in the NoMad hotel brand and partnered with Small Luxury Hotels of the World and AutoCamp.”
Labor and workforce risk
Key-person loss, labor shortages and organized labor activities could restrict growth or raise costs
“The loss of key senior management personnel or labor shortages could restrict our ability to grow our business or operate our properties or result in increased labor costs”
Third-party service provider / supplier dependency
May rely on single or limited suppliers for various goods and services; disruption could harm operations, reputation and financial performance
“From time to time, we may rely on a single or limited number of suppliers for the provision of various goods or services that we use in the operation of our business.”
Management and franchise fees — the core fee-based business — are charged to third-party hotel owners who also fund hotel capital; owner financial condition and contract terminations are key risks.
“The management and franchise segment includes all of the hotels we manage for third-party owners, as well as all properties that license our intellectual property”
U.S. represented 64% of system-wide hotel rooms; more than half of pipeline rooms are outside the U.S., indicating continued international growth tilt.
“the U.S., which represented 64 percent of our system-wide hotel rooms as of December 31, 2025”
Consumer demand is closely linked to the general economy and sensitive to business and personal discretionary spending levels.
“Consumer demand for our services is closely linked to the performance of the general economy and is sensitive to business and personal discretionary spending levels.”
243 million members drive repeat business and direct bookings; percentage of travel spend captured increases as members move up program tiers.
“Affiliation with our loyalty program encourages members to allocate more of their travel spend to our hotels. The percentage of travel spend we capture from Hilton Honors members increases as they move up the tiers of our program.”
Capital to build, renovate and maintain hotels is typically provided by third-party owners, making the asset-light model dependent on owner investment and credit quality.
“the capital required to build, renovate and maintain hotels is typically provided by the third-party owners with whom we contract to provide management services”
Inflation raises operating costs (labor, energy, insurance, food and beverage) and consumer prices, potentially weakening travel demand; also cited as a current challenge to development execution.
“increases in costs due to inflation or other factors that may not be fully offset by increases in revenues in our business”
Marriott brands are named as selected competitors across nearly every chain scale, from luxury (JW Marriott) to focused service (Courtyard, Fairfield) and extended stay (Residence Inn, TownePlace Suites).
“Hyatt Regency, Marriott, Omni, Sheraton, Westin”
Elevated interest rates raise capital costs for Hilton and third-party owners, hindering development; variable-rate debt adds expense risk.
“decreases in the availability and/or increases in the cost of capital necessary for us and third-party hotel owners to fund investments, capital expenditures and service debt obligations”
A significant percentage of rooms are booked through internet intermediaries who charge commissions, may de-ranking hotels, and could divert bookings to their own brands; LLM platforms entering travel bookings add further diversion risk.
“A significant percentage of hotel rooms for individual guests are booked through internet travel intermediaries, to whom we commit to pay various commissions and transaction fees for sales of our rooms through their systems.”
Hyatt brands (Hyatt Regency, Grand Hyatt, Hyatt Centric, Hyatt Place, Hyatt House, Hyatt Studios) named as competitors across luxury, lifestyle, focused service and extended-stay segments.
“JW Marriott, Intercontinental, Sofitel, Grand Hyatt, Shangri-La, Fairmont”
Wars, political instability, terrorism and travel security measures can foreclose travel to certain locales and reduce demand across 143 countries.
“wars, geopolitical conflict, political instability or civil unrest, terrorist activities or threats and resulting heightened travel security measures, any of which may foreclose travel to certain locales”
Labor shortages could restrict efficient operation or growth and increase costs; organized labor activities could divert business from affected hotels.
“labor shortages, which could restrict our ability to efficiently operate or grow our business and/or increase our costs”
Relies on internal processes and controls of third-party software/application vendors for security of code, systems and data; also may rely on single or limited suppliers for various goods and services.
“We rely on the internal processes and controls of third-party software and application vendors to maintain the security of all software code, integrations, systems and data provided to or used by Hilton.”
Climate change, natural disasters and extreme weather (earthquakes, hurricanes, floods, wildfires) can disrupt properties and reduce travel demand.
“natural, climate-related or man-made disasters and extreme weather conditions, including earthquakes, tsunamis, tornadoes, hurricanes, typhoons, floods, wildfires, volcanic eruptions, oil spills and nuclear incidents”
Decreases in business travel frequency may result from alternatives to in-person meetings, including online or teleconferencing virtual meetings.
“decreases in the frequency of business travel that may result from alternatives to in-person meetings, including virtual meetings hosted online or over private teleconferencing networks”
HGV pays licensing fees for exclusive use of Hilton timeshare brands under a long-term license agreement; a stated component of management and franchise segment revenues.
“HGV has the exclusive right to use our timeshare brands, subject to the terms of a long-term license agreement with us.”
Changes in taxes, tariffs and governmental regulations affect cost of supplies to hotels and broader macro conditions; tariffs cited among macroeconomic demand risks.
“changes in taxes, tariffs and governmental regulations that affect the cost of supplies to hotels or influence or set wages, prices, interest rates or construction and maintenance procedures and costs”
Co-branded credit card providers including American Express are strategic partners paying licensing fees and enabling Honors points redemption.
“Hilton Honors members can also use points earned to transact with strategic partner hotels as well as many strategic partners, including credit card providers, such as American Express”
GDPR and other data protection/marketing laws (TCPA, CAN-SPAM, California privacy laws) govern Hilton's direct marketing and could restrict marketing activities.
“international data protection laws, such as the E.U. General Data Protection Regulation ("GDPR"), and laws limiting the cross-border transfer of data that govern these activities”
Supply chain disruptions listed among macroeconomic factors that can reduce demand for hospitality products and services.
“changes in general economic conditions, including inflation, interest rates, supply chain disruptions, low consumer confidence, tariffs, increases in unemployment levels”
U.S. Federal government shutdowns and decreased corporate or government travel budgets can reduce demand; group business cancellations/renegotiations also cited.
“the impact of U.S. Federal government shutdowns and other similar governmental budgetary impasses or reductions;”
See which prediction-market events move HLT, how its filings map to real-world exposure, and what 12 AI strategies are doing with positions like it.
Free forever to follow AlphaBrain’s AI strategies. No card required.
Why These 2 Hotel Stocks Are Beating Travel Peers
MarketBeat • STOCK • 13/06/2026, 11:26:33
'YOU AIN'T SEEN NOTHING YET': Hilton vows AGGRESSIVE push in CA race
Fox Business • STOCK • 11/06/2026, 17:30:19
SHOCKWAVE: Hilton says change is SWEEPING across California
Fox Business • STOCK • 03/06/2026, 13:15:10
Hilton Launches Undergraduate by Hilton, Accelerating Lifestyle Portfolio Growth
Business Wire • STOCK • 01/06/2026, 10:30:00
Affinity Hospitality Announced Home2 Suites by Hilton® Wasilla Topping Off
Business Wire • STOCK • 19/05/2026, 00:28:00
Hilton's Q1 Report Put One Big Question Front and Center for 2026
MarketBeat • STOCK • 30/04/2026, 15:10:24
Hilton's CEO says he sees a C-shaped economy emerging in the US
Business Insider • STOCK • 29/04/2026, 03:01:12
Hilton Worldwide Holdings Inc. (HLT) Q1 2026 Earnings Call Transcript
Seeking Alpha • STOCK • 28/04/2026, 17:41:48
Hilton Worldwide Holdings Inc. (HLT) Q1 Earnings Top Estimates
Zacks Investment Research • STOCK • 28/04/2026, 10:10:35
Hilton Gears Up to Post Q1 Earnings: What's in Store for the Stock?
Zacks Investment Research • STOCK • 24/04/2026, 14:21:01
Will Hilton Worldwide (HLT) Beat Estimates Again in Its Next Earnings Report?
Zacks Investment Research • STOCK • 17/04/2026, 15:11:14
'The whole thing is ridiculous': Hilton rips California's mismanagement of COVID relief
Fox Business • STOCK • 29/03/2026, 16:00:39
