Hilton Worldwide Lifts 2014 Outlook As Earnings Beat Forecast

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Hilton Worldwide Holdings Inc. said it's lifting its 2014 outlook after earnings beat Wall Street forecasts. Hilton reported earnings of 19 cents for the third quarter, versus 22 cents in the year-ago period. Analysts surveyed by FactSet Research were forecasting the company to earn 17 cents on revenue of $2.616 billion. Hilton reported revenue of $2.644 billion, versus $2.499 billion in the year-ago period. System-wide comparable RevPAR -- a performance metric in the hotel industry -- rose 8.4% for the third quarter. U.S. comparable RevPAR rose 8.8% from the same period a year ago. Hilton said it expects adjusted earnings for the full year between 69 cents and 71 cents. System-wide RevPAR is expected to rise between 6% and 7% on a comparable and currency-neutral basis for the full year.

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