Hilton Worldwide Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Hilton Worldwide Holdings Inc. has filed its Q1 2024 10-Q report, detailing financial performance and operational segments.</b>

AI Summary

Hilton Worldwide Holdings Inc. (HLT) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. Hilton Worldwide Holdings Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data points and segment revenues are detailed within the report. The report includes information on various debt facilities and senior notes. Asset and liability details, including intangible assets and loyalty program liabilities, are presented.

Why It Matters

For investors and stakeholders tracking Hilton Worldwide Holdings Inc., this filing contains several important signals. Investors can assess Hilton's financial health and operational performance in the first quarter of 2024. The filing provides specific figures on revenue streams, debt obligations, and asset management, crucial for investment decisions.

Risk Assessment

Risk Level: medium — Hilton Worldwide Holdings Inc. shows moderate risk based on this filing. The company's financial performance is subject to market conditions and operational execution, as detailed in the 10-Q filing.

Analyst Insight

Review the detailed revenue breakdown and debt structure in the 10-Q to understand Hilton's financial position and future outlook.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report)
• 2024-04-24 — Filing Date (10-Q submission)
• 2024-01-01 — Reporting Period Start (Q1 2024)

Key Players & Entities

• Hilton Worldwide Holdings Inc. (company) — Filer of the 10-Q report
• 2024-03-31 (date) — Period of report
• 2024-04-24 (date) — Filing date
• 2024-01-01 (date) — Start of reporting period
• 2023-12-31 (date) — Previous fiscal year end

FAQ

Industry Context

Hilton Worldwide Holdings Inc. operates in the global hospitality industry, managing and franchising hotels.

Regulatory Implications

The company is subject to SEC regulations for public filings, including the quarterly 10-Q report.

What Investors Should Do

1. Analyze the revenue segments for Q1 2024 to identify growth drivers.
2. Review the company's debt structure and maturity dates.
3. Compare key financial metrics with the previous year's Q1 results.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-24: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the Q1 2024 results, providing updated financial and operational data compared to the previous fiscal year's filings.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share HLT New York Stock

Filing Documents

• hlt-20240331.htm (10-Q) — 854KB
• hilton-2024psuagreement.htm (EX-10.1) — 331KB
• hilton-2024rsuagreement.htm (EX-10.2) — 301KB
• hilton-2024nqstockoptionag.htm (EX-10.3) — 302KB
• q12024cert311.htm (EX-31.1) — 11KB
• q12024cert312.htm (EX-31.2) — 12KB
• q12024cert321.htm (EX-32.1) — 6KB
• q12024cert322.htm (EX-32.2) — 6KB
• 0001585689-24-000101.txt (&nbsp;) — 6529KB
• hlt-20240331.xsd (EX-101.SCH) — 37KB
• hlt-20240331_cal.xml (EX-101.CAL) — 57KB
• hlt-20240331_def.xml (EX-101.DEF) — 221KB
• hlt-20240331_lab.xml (EX-101.LAB) — 479KB
• hlt-20240331_pre.xml (EX-101.PRE) — 339KB
• hlt-20240331_htm.xml (XML) — 753KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 2

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 25

Controls and Procedures

Item 4. Controls and Procedures 25

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 27

Risk Factors

Item 1A. Risk Factors 27

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 27

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 27

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 28

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements HILTON WORLDWIDE HOLDINGS INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share data) March 31, December 31, 2024 2023 (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 1,346 $ 800 Restricted cash and cash equivalents 74 75 Accounts receivable, net of allowance for credit losses of $ 137 and $ 131 1,467 1,487 Prepaid expenses 193 131 Other 103 121 Total current assets (variable interest entities – $ 66 and $ 65 ) 3,183 2,614 Intangibles and Other Assets: Goodwill 5,044 5,052 Brands 4,831 4,846 Management and franchise contracts, net 1,087 1,064 Other intangible assets, net 173 173 Operating lease right-of-use assets 594 618 Property and equipment, net 377 382 Deferred income tax assets 140 140 Other 503 512 Total intangibles and other assets (variable interest entities – $ 102 and $ 112 ) 12,749 12,787 TOTAL ASSETS $ 15,932 $ 15,401 LIABILITIES AND EQUITY (DEFICIT) Current Liabilities: Accounts payable, accrued expenses and other $ 1,935 $ 1,979 Current maturities of long-term debt 38 39 Current portion of deferred revenues 513 502 Current portion of liability for guest loyalty program 1,288 1,202 Total current liabilities (variable interest entities – $ 46 and $ 50 ) 3,774 3,722 Long-term debt 10,135 9,157 Operating lease liabilities 775 808 Deferred revenues 1,152 1,132 Deferred income tax liabilities 373 401 Liability for guest loyalty program 1,553 1,530 Other 987 998 Total liabilities (variable interest entities – $ 122 and $ 137 ) 18,749 17,748 Commitments and contingencies – see Note 13 Equity (Deficit): Common stock, $ 0.01 par value; 10,000,000,000 authorized shares, 251,032,237 outstanding as of March 31, 2024 and 253,488,288 outstanding as of December 31, 2023 3 3 Treasury stock, at cost; 84,184,078 shares as of March 31, 2024 and 80,807,049 shares as of December 31, 2023 ( 9,060 ) ( 8,393 ) Additional paid-in capital 10,954 10

View Full Filing

View this 10-Q filing on SEC EDGAR