Hilton Worldwide Holdings Inc. (HLT) Q3 2022 Earnings Call Transcript

Hilton Worldwide Holdings Inc. (NYSE:HLT) Q3 2022 Earnings Conference Call October 26, 2022 10:00 AM ET

Company Participants

Jill Slattery - Senior Vice President, Investor Relations & Corporate Development

Chris Nassetta - President & Chief Executive Officer

Kevin Jacobs - Chief Financial Officer & President, Global Development

Conference Call Participants

Joe Greff - JPMorgan

Shaun Kelley - Bank of America

Carlo Santarelli - Deutsche Bank

Smedes Rose - Citi

David Katz - Jefferies

Robin Farley - UBS

Chad Beynon - Macquarie

Patrick Scholes - Truist Securities

Duane Pfennigwerth - Evercore ISI

Stephen Grambling - Morgan Stanley

Brandt Montour - Barclays

Operator

Good morning and welcome to the Hilton Third Quarter 2022 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Jill Slattery, Senior Vice President, Investor Relations & Corporate Development. You may begin.

Jill Slattery

Thank you, Chad. Welcome to Hilton’s third quarter 2022 earnings call. Before we begin, we would like to remind you that our discussions this morning will include forward-looking statements. Actual results could differ materially from those indicated in the forward-looking statements. And forward-looking statements made today speak only to our expectations as of today. We undertake no obligation to update or revise these statements.

For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of our most recently filed Form 10-K and first quarter 10-Q. In addition, we will refer to certain non-GAAP financial measures on this call. You can find reconciliations of non-GAAP to GAAP financial measures discussed on today’s call in our earnings press release and on our website at ir.Hilton.com.

This morning, Chris Nassetta, our President and Chief Executive Officer, will provide an overview of the current operating environment and the company’s outlook. Kevin Jacobs, our Chief Financial Officer and President, Global Development, will then review our third results and discuss our expectations for the year. Following their remarks, we’ll be happy to take your questions.

And with that, I’m pleased to turn the call over to Chris.

Chris Nassetta

Thank you, Jill. Good morning, everyone, and thanks for joining us today. The third quarter marked a very important milestone in our continued recovery. For the first time since the pandemic began, system-wide RevPAR surpassed 2019 levels. Additionally, adjusted EBITDA and adjusted EPS exceeded the high end of our guidance and 2019 levels. We achieved several notable development milestones in the quarter, including reaching 100,000 rooms open across Europe, and announced various strategic partnerships, further enhancing the guest experience and the strength of our global system.