Dive Brief:

• Hilton’s systemwide RevPAR increased 5.8% year over year during the third quarter of 2026, “driven by strength in travel demand supported by favorable macro trends,” including in the U.S., President and CEO Chris Nassetta said on a Tuesday earnings call. 
• During Q3, Hilton also achieved its highest quarter ever for organic openings, according to a Tuesday earnings report. The company opened 182 hotels, or 27,000 rooms, during the quarter, and anticipates “very strong momentum” for the fourth quarter, per Nassetta. 
• Given “a strong third quarter,” the hotel giant raised its full-year 2026 systemwide RevPAR growth forecast from between 3% and 3.5% to between 4% and 4.5%, with business transient momentum expected to carry into the fourth quarter, Nassetta said. 

Dive Insight:

In addition to rate and occupancy exceeding expectations, RevPAR outperformance in Q3 was driven by “strength in business and group demand, continued momentum following the World Cup and favorable calendar holiday shifts,” Hilton CFO Kevin Jacobs said on the earnings call. 

According to the report, U.S. RevPAR increased 7% year over year, driven by a 2.1 percentage point increase in occupancy and a 4.1% increase in ADR. Nassetta noted that supportive policy in the U.S., coupled with increased private sector investment and ongoing public infrastructure spending, is fueling demand. 

Hilton expects to benefit from a strong U.S. economy and the growth of the middle-class, given its exposure to business travel and especially small- and medium-sized companies. Nassetta added that middle-class wage growth is further supporting a C-shaped economy, with middle- and lower-income households increasing their spending.

On the development front, conversions continued to be a source of growth for the company and represented 37% of the company’s openings in the quarter — a trend Hilton expects to continue. 

“Because our brands drive RevPAR index premiums, we believe there is significant opportunity to continue growing through conversions,” Nassetta said. 

Additionally,  Hilton’s luxury and lifestyle portfolios gained the most traction with trailing 12-month net unit growth rates of 11% and 20%, respectively, according to Nassetta. Luxury and lifestyle hotels also made up 30% of total openings during the quarter. In September, Hilton opened the 210-room Hale Hokuala Kauai, Curio Collection hotel on Hawaii’s Kauai Island, marking the debut of the lifestyle brand in the state. 

Hilton’s development pipeline reached a record 543,100 rooms, with new construction starts up 40% year over year in Q3, according to Nassetta.

More recently, Hilton has made some high-level changes across its organization. In early October, the company named Jeff Moore, formerly vice president of software engineering at Uber, as its new chief technology officer. 

And in line with its “people-led, tech-powered strategy,” the company moved its common stock listing from the New York Stock Exchange to Nasdaq. Beginning Nov. 5, Hilton will switch to Nasdaq under its current ticker, HLT, “positioning Hilton alongside some of the world’s most innovative companies,” Nassetta said on the call. 

Beyond 2026, Nassetta said he is optimistic about strengthening demand and RevPAR growth.