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Hilton Hotels Corp. Wednesday reported its first-quarter net profits had slipped 5 percent, echoing comments in the lodging industry that results had started to fray in the weaker economy.

Beverly Hills, California-based Hilton (HLT.N) reported first-quarter net income of $55 million, or 15 cents per share, compared with $58 million, or 16 cents per share, including a net gain of $29 million, or 4 cents a share.
http://www.nytimes.com/reuters/busin...ton-earns.html

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Hilton Hotels Profits Fall 66 Percent

U.S. hotel operator Hilton Hotels Corp. reported on Tuesday that third-quarter profits fell 66 percent and forecast that it would break even in the fourth quarter as business continued to slump.

In a statement, Hilton said business had been damaged by the travel slowdown after last month's hijacked jetliner attacks in New York and near Washington. It forecast better performance next year, however.

http://www.nytimes.com/reuters/busin...els-earns.html

amanuensis

http://wire.ap.org/APnews/?SITE=UTSAL&FRONTID=HOME

wigstheone

BEVERLY HILLS, Calif. (Reuters) - Hotel operator Hilton Hotels Corp. HLT.N on Tuesday reported lower quarterly earnings as the industry's post-Sept. 11 rebound stalled due to weak demand from business travelers.

Hilton reported second-quarter net income of $76 million, or 20 cents a share, compared with $86 million, or 23 cents a share, a year earlier. Revenue fell 5 percent to nearly $1.04 billion.

http://www.reuters.com/news_article....toryID=1268829

gutt22

From the Motley Fool web site:

http://www.fool.com/News/Take/2003/take030328.htm

Hilton's Reservations

Last night, Hilton (NYSE: HLT) warned it would miss profit targets this year. It will barely break even in the first quarter, and it's now guiding analysts down to the high $0.30 EPS range for all of 2003.

The most interesting content is at the bottom of the article, which talks about RevPAR implications. Sounds like it could be good news for travelers, but not necessarily the best news for Hilton. Maybe we could begin to see the end of some of these cheaper rate deals? Or maybe this is just nothing to worry about because it's a tough time for the travel industry, and Hilton's just doing what it needs to in order to weather the storm.

Anyway, just wanted to pass it along.

andrzej

Hilton Hotels on Tuesday said its quarterly profit topped Wall Street's expectations and rose by 62% as strong demand allowed it to raise room rates.


http://www.usatoday.com/travel/hotel...-profits_x.htm

heffa

I just read this in USA Today (@ Hilton Springfield) that the first-quarter profit climbed 63% driven by strengthening demand from busiess travelers and various one-time items.

Seems that my 50 days so far this year have paid off. I wonder if we can expect more promotion from HHoners now?

Check: http://www.usatoday.com/travel/hotel...-profits_x.htm

jayb5

"Margins were also affected by a new marketing campaign and higher energy costs, the company said."

I wonder what "marketing campaign" they're referring to here?

RoadWeary

Probably all those TV ads I keep seeing.

Chris

LAX1K to AmWest

I was reading the US Today today, and was happy to see Hilton is doing quite well. Even though no Freddies, it is not affecting Hilton's profits. If you look at the article "Hilton Hotels reported Tuesday that first-quarter profit climbed 63%, driven by strengthening demand from business travelers and various one-time items."

I am glad Hilton is doing a good job.. I have been pretty pleased by promotions and my benefits (especially compared to some Marriott properties). Awesome job! ^

JDiver

I read that too - AP. "...reported net income of $104 million, or 26 cents per share, for the three months ended March 31, vs. a prior-year profit of $64 million or 16 cents per share" and "Revenue rose 41% to $1.52 billion from $1.08 billion in the year earlier period." Analysts had predicted 18 cents per share.

"Revenue per available room, a key performance indicator, increased 9%, driven by rate increases and high demand in most major markets, the company said. Increased demand from business and leisure travelers resulted in high single-digit or double-digit average daily rate increases at many of its major U.S. hotels." (But, you knew that, from personal experience...)

That also drove the new award rates, and availability.

Lehava

well now I know where all my money went *smile*

jabez

If you read their board report you'll notice that they feel their purchases of Hilton International and Hilton Honors (they previously owned 50%) as their BIG news for the quarter.
It's also clear that their increased prices were aimed at the business traveler.