Report
Dan Wasiolek
EUR 101.80 For Business Accounts Only

Hilton’s Brand Advantage Remains Strong as U.S. Group Business Decelerates

While much focus was on Hilton’s slower second-quarter U.S. revenue per available room, or revPAR, we think the far more important takeaway is that Hilton continues to gain share. This supports our stance that its narrow moat is positioned to strengthen over the next several years, driven by its prominent brands, robust loyalty program, and leading direct booking campaign. Although, we may slightly increase our 2017 fee revenue estimate from 8% toward management’s increased target of 8%-10% (7%-...
Underlying
Hilton Worldwide Holdings Inc

Hilton Worldwide Holdings is a holding company. Through its subsidiaries, the company is engaged in hospitality with operations organized in two operating segments: management and franchise, which includes all of the hotels the company manages for third-party owners, as well as all franchised hotels operated or managed by someone other than the company; and Ownership, which includes hotels that the company owned or leased or that are owned or leased by entities in which the company owns a noncontrolling financial interest. Hilton Honors is the company's guest loyalty program that rewards guests with points for each stay at nearly all of its properties, which are then redeemable for free nights and other goods and services.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Dan Wasiolek

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