Revenue: As of FY2025, the actual value is USD 12.04 B.EPS: As of FY2025, the actual value is USD 6.12, missing the estimate of USD 6.7169.EBIT: As of FY2025, the actual value is USD 3.313 B.<h4>Segment Revenue</h4><ul><li>Management and Franchise Segment:<ul><li>Franchise and licensing fees were $2,780 million in 2025, an increase from $2,600 million in 2024, driven by net hotel additions, currency neutral increases from comparable franchised hotels, and a $104 million increase in licensing fees primarily from strategic partnerships and Hilton Grand Vacations Inc. (HGV).</li><li>Base and other management fees reached $376 million in 2025, up from $369 million in 2024.</li><li>Incentive management fees were $313 million in 2025, an increase from $290 million in 2024.</li><li>Total management fees amounted to $689 million in 2025, compared to $659 million in 2024, with increases from net hotel additions and comparable managed hotels’ RevPAR growth, partially offset by a decrease in termination fees.</li></ul></li><li>Ownership Segment:<ul><li>Ownership revenues were $1,233 million in 2025, a decrease from $1,255 million in 2024, primarily due to a currency neutral decrease partially offset by favorable foreign currency fluctuations.</li></ul></li><li>Other Revenues:<ul><li>Other revenues were $252 million in 2025, up from $232 million in 2024, mainly due to increased vendor rebates.</li><li>Cost reimbursement revenues were $7,085 million in 2025, an increase from $6,428 million in 2024.</li></ul></li></ul><h4>Operational Metrics</h4><ul><li>Net income was $1,461 million in 2025, compared to $1,539 million in 2024.</li><li>Operating income increased to $2,693 million in 2025 from $2,370 million in 2024.</li><li>Adjusted EBITDA rose to $3,725 million in 2025 from $3,429 million in 2024.</li></ul><h4>Operating Costs</h4><ul><li>Ownership expenses decreased to $1,094 million in 2025 from $1,126 million in 2024, influenced by currency neutral decreases partially offset by unfavorable foreign currency fluctuations.</li><li>Depreciation and amortization expenses were $177 million in 2025, up from $146 million in 2024, mainly due to software placed in service.</li><li>General and administrative expenses decreased to $393 million in 2025 from $415 million in 2024, primarily due to lower general corporate costs.</li><li>Other expenses were $132 million in 2025, down from $137 million in 2024, mainly due to decreased procurement volume.</li><li>Reimbursed expenses were $7,550 million in 2025, an increase from $6,985 million in 2024.</li></ul><h4>Cash Flow</h4><ul><li>Net cash provided by operating activities was $2,129 million in 2025, up from $2,013 million in 2024, driven by higher franchise and licensing fees and decreased debt guarantee payments, partially offset by increased contract acquisition costs and interest payments.</li><li>Net cash used in investing activities was - $190 million in 2025, compared to - $446 million in 2024, with 2024 including acquisitions of the Graduate brand and Sydell Group.</li><li>Net cash used in financing activities was - $2,348 million in 2025, compared to - $1,045 million in 2024, due to debt repayments and increased share repurchases, partially offset by new senior notes issuances.</li></ul><h4>Unique Metrics</h4><ul><li>Hotel System (as of December 31, 2025): The system comprised 9,158 properties and 1,351,351 rooms, with Hilton Honors members totaling 243 million, a 15% increase from December 31, 2024.</li><li>Development Activity (for the year ended December 31, 2025): The company opened 796 hotels (97,000 rooms) and achieved net additions of 702 hotels (81,100 rooms), resulting in a net unit growth of 6.7%. The development pipeline included 3,703 hotels and 520,500 rooms.</li><li>System-wide Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy was 71.5% (-0.1 percentage points), Average Daily Rate (ADR) was $159.89 (0.5% increase), and Revenue Per Available Room (RevPAR) was $114.39 (0.4% increase).</li><li>U.S. Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy was 72.0% (-0.5 percentage points), ADR was $169.28 (no change), and RevPAR was $121.91 (-0.8% decrease).</li><li>Americas (excluding U.S.) Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy increased to 68.3% (0.5 percentage points), ADR rose to $153.79 (4.4% increase), and RevPAR increased to $105.06 (5.1% increase).</li><li>Europe Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy was 74.3% (0.8 percentage points increase), ADR was $168.43 (1.8% increase), and RevPAR was $125.13 (2.9% increase).</li><li>MEA Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy was 72.8% (4.2 percentage points increase), ADR was $192.15 (5.0% increase), and RevPAR was $139.89 (11.5% increase).</li><li>Asia Pacific Comparable Hotels (Year Ended December 31, 2025 vs. 2024): Occupancy was 68.7% (0.4 percentage points increase), ADR was $104.62 (0.5% increase), and RevPAR was $71.86 (1.1% increase).</li></ul><h4>Outlook / Guidance</h4>希尔顿全球 anticipates increasing revenues, return on invested capital, and free cash flow over time, with international operations expected to materially contribute to results. The company expects increased costs for general liability and excess liability insurance in 2026 but believes its current liquidity sources will meet future requirements. An additional $3.5 billion was authorized for share repurchases in January 2026.

Hilton Worldwide | 10-K: FY2025 Revenue: USD 12.04 B