Profits at Hilton Worldwide grew more than three-fold during the first quarter of the year, lifted by an increase in group travel and rising nightly rates, the company reported Friday.
Hilton posted first-quarter earnings of $123 million, or 12 cents, up from $34 million, or 3 cents per share, a year earlier. Revenue per available room — a key industry metric — grew 6.6 percent from the same period last year.
“It feels like the business is really hitting on all cylinders,” Christopher J. Nassetta, president and chief executive, said in a conference call with investors.
The McLean-based hotel company also said it has plans to introduce two new brands this year: A four-plus-star brand focused on urban and resort hotels (slated to debut this summer), and a “lifestyle” brand (coming this fall). The company currently has 10 hotel brands, including Waldorf Astoria Hotels & Resorts and Embassy Suite Hotels.
“We are working on a meaningful number of deals in both new brands,” Nassetta said in the call.
The company, which went public in December, continues to grow at a rapid clip. During the first quarter, Hilton opened 51 hotels with more than 9,000 rooms.