(Reuters) -Hilton Worldwide Holdings Inc raised its full-year adjusted profit forecast on Wednesday as the U.S. hotel operator bets on pent-up travel demand to boost its earnings.
The hotel industry has benefited from price hikes and a rebound in travel demand after the pandemic, with consumers booking longer stays despite rising interest rates and tight financial conditions have stoked fears of a looming recession.
Hilton, which owns brands including Waldorf Astoria Hotels & Resorts, expects full-year adjusted profit per share between $5.68 and $5.88, compared with a prior forecast of $5.42 to $5.68.
For the first quarter, Hilton said revenue-per-available-room (RevPAR) – a key metric for investors – rose 30% from a year earlier.
(Reporting by Priyamvada C in Bengaluru; Editing by Devika Syamnath)
