On August 12th, the Beijing News Beike Finance reporter learned that Hilton Hotels Group (referred to as "Hilton") announced its Q2 2024 performance. During the reporting period, Hilton's total revenue was approximately $2.951 billion, a year-on-year increase of 10.94%; The net profit attributable to the parent company was approximately $421 million, a year-on-year increase of 2.43%.
The report shows that in the second quarter of 2024, Hilton's franchise license fee revenue was approximately $689 million, a year-on-year increase of 11.49%; Basic and other management fee income was approximately $93 million, a year-on-year increase of 8.14%; The revenue from self owned and leased hotels was approximately $337 million, a year-on-year decrease of 1.17%; Other revenue from managing and franchising properties was approximately $1.693 billion, a year-on-year increase of 12.87%.
During the reporting period, the hotel occupancy rate across the entire Hilton system was 75.3%, an increase of 1.3 percentage points year-on-year; ADR (Average Daily Rate) was $163.7, a year-on-year increase of 1.7%; RevPAR (average revenue per rentable room) was $123.3, a year-on-year increase of 3.5%.
In the second quarter of 2024, the hotel occupancy rate in Europe was the highest, at 77.4%; The RevPAR of hotels in the Asia Pacific region was $73.08, a year-on-year increase of 0.9%, and the occupancy rate was 69.5%, a year-on-year increase of 0.8 percentage points. Hilton expects that the RevPAR of comparable hotels across the entire system will increase by 2% to 3% year-on-year in 2024.