Hilton Worldwide Holdings (HLT) in Pershing Square 2024 Q2

Strong Revenue Growth Amid Favorable Industry Trends

Apr 15, 2025

Summary

Global demand and favorable supply backdrop drive strong revenue growth.
RevPAR increased by 3.5%, with 6% net unit growth.
New brand concepts and partnerships expected to boost future growth.
Incremental challenges in China lead to slight guidance adjustments.
Continued focus on cost control and capital return programs.

Hilton Worldwide Holdings (HLT, Financial) was featured in Pershing Square’s 2024 Q2 fund letter as a strong performer benefiting from robust global demand and a favorable supply environment in the lodging industry. The fund, led by Pershing Square Capital Management, noted Hilton's impressive revenue growth, supported by increased RevPAR and net unit growth. Despite some macroeconomic challenges, particularly in China, Hilton's strategic initiatives and partnerships are expected to drive continued growth and shareholder value.

"In the first half of 2024, Hilton generated strong revenue growth as the lodging industry experienced solid global demand against a favorable supply backdrop. Near-term industry trends remain positive, with continued strong international growth, improving business transient demand and extremely robust group demand, which is poised to sequentially accelerate in the third quarter." — William A. Ackman, Pershing Square Holdings, Ltd., 2024 Q2 Fund Letter

Read full letter at gurufocus Pershing Square 2024 Q2 page.

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