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Sentiment · FY2026 Q2
Hilton delivered Q1 adjusted EPS of $2.01 with management and franchise fees growing 10.4% year-over-year, as system-wide RevPAR increased 3.6% driven by a broadening recovery across all segments. Net unit growth of 7.0% kept pace with full-year targets, and the pipeline remained above 560,000 rooms with strong conversion activity. Management raised full-year EPS guidance to $8.79-$8.91 from the prior $8.65-$8.77 midpoint, citing the C-shaped economic convergence driving mid-market demand alongside luxury recovery.
Revenue Growth | Demand | Geographic Expansion | Competitive Dynamics | Macroeconomic | Capital Allocation | Margin | Product Launch | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 4 | 3 | 4 | 3 | 2 | 2 | 1 |
| 2025Q1 | 5 | 5 | 3 | 2 | 2 | |||
| 2025Q2 | 5 | 2 | 6 | 1 | 1 | 1 | 1 | 2 |
| 2025Q3 | 2 | 4 | 2 | 3 | 2 | 2 | 2 | 1 |
| 2025Q4 | 5 | 4 | 2 | 1 | 4 | 1 | 2 | |
| 2026Q1 | 4 | 3 | 3 | 4 | 3 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 5 | 5 | 2 | 5 | 4 |
| Demand | 4 | 5 | 2 | 4 | 4 | 3 |
| Geographic Expansion | 3 | 3 | 6 | 2 | 3 | |
| Competitive Dynamics | 4 | 1 | 3 | 2 | 4 | |
| Macroeconomic | 3 | 2 | 1 | 2 | 1 | 3 |
| Capital Allocation | 2 | 1 | 2 | 4 | ||
| Margin | 2 | 2 | 1 | 2 | 1 | 1 |
| Product Launch | 1 | 2 | 1 | 2 |
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $2.78B | +6.7% | $2.05 | +259.6% | 17.6% | 18.1% | $534M |
| FY2025 Q1 | $2.69B | +4.7% | $1.23 | +18.3% | 19.9% | 11.1% | $412M |
| FY2025 Q2 | $3.14B | +6.3% | $1.84 | +10.2% | 24.8% | 14.0% | $635M |
| FY2025 Q3 | $3.12B | +8.8% | $1.77 | +28.3% | 24.9% | 13.5% | $766M |
| FY2025 Q4 | $3.09B | +10.9% | $1.28 | -37.6% | 19.5% | 9.6% | $151M |
| FY2026 Q1 | $2.94B | +9.0% | $1.66 | +35.0% | 23.1% | 13.1% | $609M |
| FY2026 Q2 | $3.34B | +6.5% | $2.10 | +14.1% | 25.7% | 14.4% | $481M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Robin Farley | UBS | 8 (50%) |
| Shaun Kelley | Bank of America | 7 (0%) |
| Dave Katz | Jefferies | 7 (0%) |
| Brandt Montour | Barclays | 7 (29%) |
| Lizzie Dove | Goldman Sachs | 7 (29%) |
| Dan Politzer | JPMorgan | 6 (17%) |
| Stephen Grambling | Morgan Stanley | 6 (33%) |
| Michael Bellisario | Robert W. Baird | 6 (0%) |
| Smedes Rose | Citigroup | 5 (0%) |
| Steve Pizzella | Deutsche Bank | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 | 8 (50%) |
| Jefferies | 1 | 7 (0%) |
| Barclays | 1 | 7 (29%) |
| Deutsche Bank | 2 |
What HLT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“They captured 1/3 more clicks for 1/5 of the spend, while simultaneously increasing the average booking value by 55%.”
Hilton EMEA is cited as an advertiser seeing strong results from Google's AI MAX ad tools.
“We've heard the big hotels try to talk up their own native apps. But it feels like we're going towards a very similar place. I think Hilton alluded to this”
An analyst cited Hilton talking up its own native app, framing the big hotel chains' direct-booking push against Expedia's OTA model.
| Bank of America | 1 | 7 (0%) |
| Goldman Sachs | 1 | 7 (29%) |
| JPMorgan | 1 | 6 (17%) |
| Morgan Stanley | 1 | 6 (33%) |
“we signed a strategic agreement with Royal Orchard Hotel to open 125 Hampton Hotels in the market”
Hilton signed a strategic development agreement with Royal Orchard Hotel to open 125 Hampton hotels in India, a large franchise-development partnership.
“Gemini and OpenAI, we're going to be opening our app within their environment in the next couple of weeks”
Hilton plans to open its app inside OpenAI's (and Google Gemini's) environments, extending distribution into AI assistants.
“we deployed an Anthropic-powered platform for customers to dream and shop called the Hilton AI Planner”
Hilton built its customer-facing AI Planner on Anthropic's technology, a named production deployment win for Anthropic in travel.
“working with leading partners, including Google, ChatGPT and Anthropic”
Hilton names Google among leading AI partners it is working with on customer discovery and distribution, a read-through for Google's enterprise AI adoption.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
HLT Hilton Worldwide | 9 | +9.0% | |
| MAR Marriott International | 8 | +6.2% |