Hilton Hotels Corporation (HHC) has reported strong first quarter results to 31 March 2004.

HHC attributed the strong results to ‘significant increases’ in the company’s management/franchise fee and timeshare businesses alongside strong RevPAR gains at comparable owned hotels and each of the company’s brands.

Total company operating income for the first quarter was $131m (£74m), a 52 per cent increase from $86m (£49m) in the 2003 quarter. First quarter 2004 net income was $37m (£21m), compared with $9m (£5m) in the 2003 quarter.

Total company earnings before adjusted EBITDA were $219m (£124m), an increase of 11 per cent on $197m (£112m) in 2003.

HHC-owned hotels showed both occupancy and average daily rate (ADR) increases during the first quarter, which Hilton says is due to the continued improvement in business transient and group travel.

Also, company-owned hotel sites in American gateway cities also benefited from an increase in demand from international visitors, primarily from Europeans taking advantage of the weakened dollar.

HHC president and chief executive, Stephen F. Bollenbach, said: “All facets of our business performed extremely well. We are particularly excited about the performance of our fee-based and timeshare businesses, both of which have shown consistently outstanding results over the last several quarters.

“Travellers are taking to the road in ever-increasing numbers, a strong summer travel season is just around the corner and the long-awaited industry recovery is on track,” he said. “We are enthusiastic for the industry and our company.” Details: www.corporate-ir.net