Here are 1-2 brief analogies for Hilton Worldwide (HLT):

• McDonald's for hotels: Like McDonald's in fast food, Hilton is a global hospitality giant known for its vast network of branded hotels, consistent standards, and significant franchising model.
• Procter & Gamble for hotels: Similar to how Procter & Gamble manages a diverse portfolio of consumer brands (e.g., Tide, Gillette), Hilton operates a wide range of hotel brands (e.g., Waldorf Astoria, Embassy Suites, Hampton Inn) to cater to different market segments from luxury to economy.

• Accommodation Services: Providing lodging in hotels, resorts, and extended-stay properties across diverse brands.
• Food and Beverage Services: Offering dining through on-site restaurants, bars, room service, and catering for events.
• Meeting and Event Spaces: Supplying venues and support for business meetings, conferences, and social events.
• Recreational Facilities: Providing amenities like pools, fitness centers, and spas for guest use.
• Franchising and Management Services: Licensing its brands and managing hotel operations for third-party owners.
• Loyalty Program (Hilton Honors): A rewards program offering points and benefits for frequent guests.

Hilton Worldwide (HLT) primarily serves individual customers, categorized by their travel purpose. While many bookings are facilitated through corporate accounts, online travel agencies, or group organizers, the ultimate consumer of Hilton's hospitality services is the individual traveler.

Hilton's major customer categories include:

• Leisure Travelers: Individuals and families seeking accommodations for vacations, tourism, personal events, and other non-business-related purposes. These customers often book directly through Hilton's websites and apps, or via online travel agencies.
• Business Travelers: Professionals and employees traveling for work-related purposes, including corporate travel, meetings, and conferences. This category includes individuals whose travel is often booked through corporate travel managers, negotiated corporate rates, or direct individual bookings for business trips.
• Group Travelers: Individuals traveling as part of a larger organized group for events such as conventions, conferences, corporate meetings, social gatherings (e.g., weddings, family reunions), and tour groups. While often coordinated and booked by an organizer, the individuals within the group are the direct consumers of the accommodation and services.

• Ecolab Inc. (ECL)
• Oracle Corporation (ORCL)

Christopher J. Nassetta, President and Chief Executive Officer

Christopher J. Nassetta has served as President and Chief Executive Officer of Hilton Worldwide since October 2007. Prior to joining Hilton, he was President and Chief Executive Officer of Host Hotels & Resorts, Inc., a position he held from 2000 to 2007. He joined Host Hotels & Resorts in 1995 as Executive Vice President and was elected Chief Operating Officer in 1997. Earlier in his career, Mr. Nassetta co-founded Bailey Capital Corporation in 1991, a real estate investment and advisory firm, where he was responsible for operations. He also spent seven years at The Oliver Carr Company, a commercial real estate company, ultimately serving as Chief Development Officer. His appointment as Hilton's CEO came following its buyout by Blackstone Group in 2007.

Kevin Jacobs, Chief Financial Officer

Kevin Jacobs is the Chief Financial Officer for Hilton, leading the company's finance, real estate, and corporate strategy functions globally. He assumed the role of Chief Financial Officer in 2013 and also served as President, Global Development from 2020 to 2025. Mr. Jacobs joined Hilton in 2008 as Senior Vice President, Corporate Strategy and was elected Treasurer in 2009. Before his tenure at Hilton, he was Senior Vice President, Mergers & Acquisitions and Treasurer of Fairmont Raffles Hotels International from 2007 to 2008. He also spent seven years with Host Hotels & Resorts, where he ultimately served as Vice President, Corporate Strategy & Investor Relations. His early career included roles in the Hospitality Consulting Practice of PwC and the Hospitality Valuation Group of Cushman & Wakefield.

Laura Fuentes, Executive Vice President and Chief Human Resources Officer

Laura Fuentes serves as Executive Vice President and Chief Human Resources Officer for Hilton, also heading Hilton Supply Management. She is responsible for human resources and leading the world's largest hospitality supply chain organization. Ms. Fuentes joined Hilton in 2013 and became Executive Vice President and Chief Human Resources Officer in 2020. Prior to joining Hilton, she spent six years at Capital One Financial in various corporate strategy and human resources roles. She also worked at McKinsey & Company in their Madrid, New York, and Washington D.C offices, serving clients across financial services and non-profit sectors. Originally from Spain, Ms. Fuentes holds a B.S. from the University of Virginia, an M.S. in Structural Engineering from the University of Texas at Austin, and an M.B.A. from Columbia University.

Danny Hughes, President, Americas

Danny Hughes is the President of the Americas for Hilton, overseeing the company's interests in its largest operating region, which spans over 6,600 hotels, 24 brands, and 43 countries and territories across North, Central, and South America. He is a 35-year hospitality industry veteran. His previous roles at Hilton include Senior Vice President and Commercial Director in the Americas, where he led more than 4,000 team members and drove growth for Hilton's portfolio of brands, and Senior Vice President, Caribbean and Latin America. Mr. Hughes received a degree in Hotel and Food Services Management from Bournemouth University in the United Kingdom.

Christopher W. Silcock, President, Global Brand and Commercial Services

Christopher W. Silcock is President, Global Brand and Commercial Services for Hilton. In this role, he leads the positioning of Hilton's global brands and commercial engine, which encompasses performance support, owner relations, global brand strategy and management, technology, sales, revenue management, distribution, enterprise data and analytics, customer engagement, marketing, and loyalty.

The increasing dominance of Google as a comprehensive travel planning and booking platform (Google Hotels, Google Flights), which is progressively integrating hotel inventory directly and acting as a gatekeeper for consumer search and booking intent. This emerging trend poses a threat by potentially disintermediating hotel brands, reducing their ability to drive direct bookings, increasing customer acquisition costs, and shifting more power and revenue to Google in the travel ecosystem, akin to how YouTube became a primary gateway for video consumption, bypassing traditional cable channels.

Hilton Worldwide Holdings Inc. (HLT) operates in the global hospitality industry, with its main products and services encompassing a wide range of offerings related to lodging, dining, events, and leisure activities through its diverse portfolio of hotel brands, as well as its loyalty program, Hilton Honors. The addressable markets for these services are substantial and global in scope.

• Global Hospitality Market: The global hospitality market was valued at approximately $5.24 trillion in 2024 and is projected to grow to $5.52 trillion in 2025. Other estimates place the global hospitality market at approximately $5.38 trillion in 2024, expanding to $5.71 trillion in 2025.
• Global Hotel Market: The global hotels and resorts market size was estimated at $1.7 trillion in 2024 and is expected to reach $1.8 trillion in 2025. Forecasts indicate the global hotel and other travel accommodation market is expected to reach $1,052.84 billion in 2025 and $1,453.44 billion by 2031. Another report estimates the global hotels market size was approximately $1,071.49 billion in 2024 and is expected to reach nearly $2,166.55 billion by 2032.
• Global Luxury Hotel Market: The global luxury hotel market size was estimated at USD 103.93 billion in 2024 and is projected to reach USD 156.80 billion by 2030. More specifically for 2025, the luxury hotel market size is estimated at USD 139.90 billion.
• Global Business Travel Market: Global business travel spending is anticipated to reach $1.64 trillion in 2025.

Hilton Worldwide (HLT) is expected to drive future revenue growth over the next two to three years through several key strategies:

1. Robust Net Unit Growth (NUG) and Development Pipeline Expansion: Hilton is committed to expanding its global portfolio by adding new hotels and rooms. The company anticipates achieving 6-7% net unit growth annually for the next several years. Its development pipeline is substantial, with a record of over 515,000 rooms, nearly half of which are already under construction, providing clear visibility for growth. This expansion includes significant activity in regions such as the Caribbean and Latin America, where Hilton reported record portfolio and pipeline growth in 2024.
2. Strategic Expansion in Luxury and Lifestyle Segments: Hilton is actively focusing on and fueling growth in its high-margin luxury and lifestyle categories. This involves the introduction of new brands, such as NoMad and Graduate by Hilton, and strategic partnerships, including an exclusive collaboration with Small Luxury Hotels of the World (SLH), adding approximately 450 SLH properties to its offerings for Hilton Honors members. Nearly a third of the hotels in Hilton's Caribbean and Latin America pipeline are in the luxury and lifestyle segments, with planned openings like Conrad Los Cabos and Waldorf Astoria San Miguel de Allende by 2027.
3. Geographic Market Expansion: The company is broadening its global footprint by entering new countries and territories and growing in underpenetrated markets. In 2024, Hilton debuted its brands in several new markets including Paraguay, Nepal, and Bonaire. International markets account for a significant portion of new additions, with strong growth observed in regions such as the Middle East & Africa and certain Asia Pacific markets (excluding China).
4. Increased Focus on Hotel Conversions: Conversions of existing hotels to Hilton brands are playing an increasingly vital role in the company's growth strategy. Conversions accounted for over a third of openings in Q2 2025 and are expected to make up approximately 40% for the full year 2025. This strategy enables rapid scaling and market share capture by repositioning existing assets.
5. Recovery and Growth in Revenue per Available Room (RevPAR): Despite some near-term RevPAR softness in certain markets, Hilton anticipates overall RevPAR growth to contribute to revenue. For the full year 2025, Hilton expects system-wide RevPAR growth between 0% and 2%. Analysts also project Hilton's revenue growth rate to be robust, forecasting a 20.1% increase per year, outperforming the broader U.S. market. This growth is expected to be supported by strong demand for leisure travel, and continued recovery in business transient and group travel.

Share Repurchases

• Hilton's Board of Directors authorized the repurchase of an additional $3.5 billion of common stock on November 14, 2024, bringing the total amount currently authorized for future repurchases to approximately $4.8 billion.
• The company repurchased $2.893 billion in shares in 2024, $2.338 billion in 2023, and $1.59 billion in 2022.
• Hilton anticipates returning approximately $3.3 billion to shareholders in 2025 through buybacks and dividends, with an expectation to spend roughly $3.15 billion on share repurchases.

Capital Expenditures

• Hilton Worldwide's capital expenditures for fiscal years ending December 2020 to 2024 averaged $73.4 million, peaking at $151 million in 2023.
• The capital expenditures were $46 million in 2020, $35 million in 2021, $39 million in 2022, $151 million in 2023, and $96 million in 2024.
• For fiscal year 2025, estimated costs for contract acquisition and capital expenditures, excluding third-party reimbursements, are projected to be between $250 million and $300 million. These expenditures primarily focus on required renovations and maintenance within its ownership segment.