Page 24 - ARUBA TODAY

Thursday 27 July 2017 BUSINESS
A24

Hilton beats 2Q forecasts, boosts outlook

This photo shows a Hilton hotel in Richmond, Va. Hilton Worldwide Holdings Inc. reports earnings,
Wednesday, July 26, 2017.
(AP Photo/Steve Helber)
NEW YORK (AP) — Hilton time gains and costs, were rose 20 percent to $2.35
Worldwide Holdings Inc. 52 cents per share, topping billion, also beating Street
on Wednesday reported Wall Street expectations. forecasts.
better-than-expected sec- The average estimate of 10 Four analysts surveyed by
ond-quarter profit as occu- analysts surveyed by Zacks Zacks expected $2.3 billion,
pancy and rates rose. Investment Research was on average.
The hotelier, which owns for 50 cents per share. The overall revenue in-
the Waldorf Astoria and The decline was mainly crease came from a 1.8
DoubleTree chains, also due to discontinued opera- percent boost in revenue
boosted its outlook. tions. Income from continu- per room, a key measure
The company’s profit fell ing operations rose to $167 for hotel operators. Occu-
30.5 percent to $166 mil- million from $100 million. pancy rose 0.4 percent and
lion, or 51 cents per share. Revenue at the McLean, the average daily room
Earnings, adjusted for one- Virginia-based company rate rose 1.2 percent.q