Hilton Worldwide reported its fourth quarter and full year 2016 results, the Company completed the spin-off of Park Hotels & Resorts and Hilton Grand Vacations in January 2017.
All results herein present the performance of Hilton without giving effect to the spin-offs, unless otherwise specified.
Additionally, all share and share-related information presented herein have been retroactively adjusted to reflect the 1-for-3 reverse stock split of Hilton's outstanding common stock that occurred in January 2017 (the "Reverse Stock Split"), unless noted otherwise. Highlights include:
- Approved 29,000 new rooms for development during the fourth quarter, bringing total approvals to a record 106,000 rooms for the full year
- Grew development pipeline 16 percent from 2015 to 1,968 hotels, consisting of 310,000 rooms, 50 percent of which are under construction
- Net unit growth was 45,000 rooms in 2016, representing a 6.6 percent growth in managed and franchised rooms
- Added 354 hotels to its system in 2016, opening nearly one hotel per day in the year
Launched its newest brand, Tapestry Collection by Hilton, in January 2017