Hilton revenue jumps 24% on more bookings at higher prices

Industries Reuters

The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David Mdzinarishvili/File Photo (Copyright Reuters 2016)

Feb 14 (Reuters) - Hotel operator Hilton Worldwide Holdings Inc reported a 24 percent rise in quarterly revenue on Wednesday, as more people booked its rooms at higher prices.

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Hilton reaffirmed that RevPAR – calculated by multiplying a hotel's average daily room rate by its occupancy rate – would grow 1-3 percent in 2018.

Hilton, which gets more than three quarters of its revenue from the United States, said system-wide occupancy rose 1.8 percent in the quarter ended Dec. 31, while its average daily room rate rose 1.2 percent.

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The company's revenue rose to $2.28 billion in the fourth quarter ended Dec. 31, from $1.84 billion a year earlier.

Hilton said it expects adjusted earnings to be between $2.49 and $2.60 per share for 2018.

Analysts on average were expecting a profit of $2.56 per share, according to Thomson Reuters I/B/E/S.

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(Reporting by Sanjana Shivdas and Arunima Banerjee in Bengaluru; Editing by Savio D'Souza)