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Hilton Hotels reports Q3 net income of US$117m
US-based Hilton Hotels Corporation has reported an increase in third quarter net income to US$117m (£62m, 92m euro), from US$89m (£47m, 70m euro) for the same period in 2005.
The company’s total adjusted EBITDA increased by 58 per cent to US$440m (£231m, 344m euro) and total operating income increased 55 per cent to US$315m (£165m, 246m euro) from the 2005 figure. Total revenue doubled from the year before to US$2.2bn (£1.1bn, 1.7bn euro).
Stephen Bollenbach, co-chair and CEO, said: “Our largest US markets are exhibiting the strongest demand, including New York, Hawaii and Chicago. We are particularly pleased with the performance of our hotels in the UK – where London is especially robust – Ireland, Continental Europe, Latin America and the Caribbean.”
Hilton added 60 properties and 8,070 rooms to its portfolio during the quarter and the company plans to spend around US$920m (£482m, 720m euro) in 2007 on routine improvements, timeshare projects, hotel renovations and special projects. Details: www.hiltonworldwide.com
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