Quarterly guidance

System-wide RevPAR growth
3% to 3.5% for the fourth quarter.
Adjusted EBITDA
$1.047 billion to $1.067 billion for the fourth quarter.
Diluted EPS adjusted for special items
$2.32 to $2.38 for the fourth quarter.

Annual guidance

RevPAR growth
4% to 4.5% for the full year 2026.
Adjusted EBITDA
$4.06 billion to $4.08 billion for the full year 2026.
Diluted EPS adjusted for special items
$9.07 to $9.13 for the full year 2026.

Outlook

Business transient demand
Business transient RevPAR grew 8.3% globally, driven by outperformance in the U.S. and strength in manufacturing, technology, and workforce lodging.
Group demand
Group RevPAR increased 8.2%, driven by sequentially stronger demand, rate gains, and favorable social and corporate meeting events.
Middle East headwinds
Conflict-related pressures in the Middle East and Africa caused a 5.6% RevPAR decline, with full year declines expected to reach low double digits.
China market
RevPAR in China declined 5.4% due to consumer sentiment weighing on leisure and government restraints on business travel.
Shareholder returns
Hilton remains on track to return approximately $3.5 billion to shareholders for the full year through buybacks and dividends.