Hilton Worldwide Holdings Inc. Files 2023 Annual Report on Form 10-K

Ticker: HLT · Form: 10-K · Filed: Feb 7, 2024 · CIK: 1585689

Hilton Worldwide Holdings INC. 10-K Filing Summary
FieldDetail
CompanyHilton Worldwide Holdings INC. (HLT)
Form Type10-K
Filed DateFeb 7, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$0.01
Sentimentbullish

Complexity: simple

Sentiment: bullish

Topics: Hilton, 10-K, Annual Report, Financials, Hospitality

TL;DR

<b>Hilton Worldwide Holdings Inc. reported strong financial results for 2023, with significant revenue and net income, alongside substantial assets and debt.</b>

AI Summary

Hilton Worldwide Holdings Inc. (HLT) filed a Annual Report (10-K) with the SEC on February 7, 2024. Total revenues for the year ended December 31, 2023, were $10,227,000,000. Net income attributable to Hilton Worldwide Holdings Inc. for 2023 was $1,261,000,000. Diluted earnings per share (EPS) for 2023 were $1.56. Total assets as of December 31, 2023, amounted to $37,479,000,000. Total debt as of December 31, 2023, was $10,252,000,000.

Why It Matters

For investors and stakeholders tracking Hilton Worldwide Holdings Inc., this filing contains several important signals. The filing provides a comprehensive overview of Hilton's financial performance and position as of year-end 2023, crucial for investors assessing the company's stability and growth prospects. Key financial metrics such as revenue, net income, EPS, total assets, and total debt offer insights into the company's operational success and financial leverage.

Risk Assessment

Risk Level: low — Hilton Worldwide Holdings Inc. shows low risk based on this filing. The company's financial performance and asset base indicate a stable and growing business, with no immediate red flags suggesting high risk.

Analyst Insight

Investors should review the detailed revenue breakdown and segment performance to understand growth drivers and potential areas for future investment.

Financial Highlights

debt To Equity
N/A
revenue
10,227,000,000
operating Margin
N/A
total Assets
37,479,000,000
total Debt
10,252,000,000
net Income
1,261,000,000
eps
1.56
gross Margin
N/A
cash Position
N/A
revenue Growth
N/A

Revenue Breakdown

SegmentRevenueGrowth
Franchise and licensing fees1,990,000,000N/A
Management and franchise agreements7,870,000,000N/A
Hotel owned and leased367,000,000N/A

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

When did Hilton Worldwide Holdings Inc. file this 10-K?

Hilton Worldwide Holdings Inc. filed this Annual Report (10-K) with the SEC on February 7, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Hilton Worldwide Holdings Inc. (HLT).

Where can I read the original 10-K filing from Hilton Worldwide Holdings Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Hilton Worldwide Holdings Inc..

What are the key takeaways from Hilton Worldwide Holdings Inc.'s 10-K?

Hilton Worldwide Holdings Inc. filed this 10-K on February 7, 2024. Key takeaways: Total revenues for the year ended December 31, 2023, were $10,227,000,000.. Net income attributable to Hilton Worldwide Holdings Inc. for 2023 was $1,261,000,000.. Diluted earnings per share (EPS) for 2023 were $1.56..

Is Hilton Worldwide Holdings Inc. a risky investment based on this filing?

Based on this 10-K, Hilton Worldwide Holdings Inc. presents a relatively low-risk profile. The company's financial performance and asset base indicate a stable and growing business, with no immediate red flags suggesting high risk.

What should investors do after reading Hilton Worldwide Holdings Inc.'s 10-K?

Investors should review the detailed revenue breakdown and segment performance to understand growth drivers and potential areas for future investment. The overall sentiment from this filing is bullish.

Key Dates

Filing Stats: 4,464 words · 18 min read · ~15 pages · Grade level 14.9 · Accepted 2024-02-07 10:10:16

Key Financial Figures

Filing Documents

Forward-Looking Statements

Forward-Looking Statements 2 Summary of Risk Factors 2 Terms Used and Basis of Presentation in this Annual Report on Form 10-K and Social Media 3

Risk Factors

Item 1A. Risk Factors 19

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 37 Item 1C. Cybersecurity 37

Properties

Item 2. Properties 39

Legal Proceedings

Item 3. Legal Proceedings 40

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 40 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41

[Reserved]

Item 6. [Reserved] 42

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 43

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 60

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 62

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 104

Controls and Procedures

Item 9A. Controls and Procedures 104

Other Information

Item 9B. Other Information 104

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 105

Executive Compensation

Item 11. Executive Compensation 105

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 105

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 105 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 105

Form 10-K Summary

Item 16. Form 10-K Summary 111

Signatures

Signatures 112 1 PART I

Forward-Looking Statements

Forward-Looking Statements This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements include, but are not limited to, statements related to our expectations regarding the performance of our business, future financial results, liquidity and capital resources and other non-historical statements. In some cases, you can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "forecasts," "potential," "continues," "may," "will," "should," "could," "seeks," "projects," "predicts," "intends," "plans," "estimates," "anticipates" or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those indicated in these statements, including, among others, those described under "Part I—Item 1A. Risk Factors" and under "Summary of Risk Factors" below. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this Annual Report on Form 10-K. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. Summary of Risk Factors In addition to the other information in this Annual Report on Form 10-K, the following risk factors should be considered carefully in evaluating our company and our business. A summary of the principal factors that create risk in investing in our securities and might cause actual results to differ from expectations is set forth below : We are subject to the business, financial and operating risks inherent to the hospitality industry, an

Business

Item 1. Business Overview Hilton is one of the largest hospitality companies in the world, with 7,530 properties comprising 1,182,937 rooms in 126 countries and territories as of December 31, 2023. Founded in 1919, Hilton has been an innovator in the industry for more than 100 years, driven by the vision of founder Conrad Hilton "to fill the earth with the light and warmth of hospitality." Our premier brand portfolio includes luxury, lifestyle, full service, focused service and all-suites hotel brands, as well as our timeshare brands. As of December 31, 2023, we had 180 million members in our award-winning guest loyalty program, Hilton Honors, a 19 percent increase from December 31, 2022; refer to "—Our Brand Portfolio" and "—Our Guest Loyalty Program" below for additional information on our brands, including Hilton Honors. We operate our business through: (i) a management and franchise segment and (ii) an ownership segment, each of which is reported as a segment based on (a) delivering a similar set of products and services and (b) being managed separately given its distinct economic characteristics. The management and franchise segment includes all of the hotels we manage for third-party owners, as well as all franchised hotels that license our intellectual property ("IP"), including our brand names, trademarks and service marks, and to which we provide other contracted services, but the day-to-day services of the hotels are operated or managed by someone other than us. Revenues from this segment include: (i) management and franchise fees charged to third-party hotel owners; (ii) licensing fees from our strategic partners, including co-branded credit card providers, and HGV; and (iii) fees for managing hotels in our ownership segment. The ownership segment primarily derives revenues from nightly hotel room sales, food and beverage sales and other services at our consolidated owned and leased hotels. For more information regarding our segments, refer to "—Our

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