Procurement
Hilton Worldwide's systemwide average daily rate during the third quarter increased 4.2 percent year over year to $142.51,
the company announced Friday during an earnings call. Hilton president and CEO Christopher Nassetta noted rebounding group business, with group revenue growth during the third quarter of 9 percent systemwide, and predicted that transient and group business will remain "very strong," yielding a "balanced effect" as group business continues to pick up momentum. ADR increased in the Americas (4.8 percent to $138.08), Europe (3.3 percent to $172.58) and Asia/Pacific (0.9 percent to $157.48) but decreased in the Middle East and Africa (down 5.7 percent to $167.00). Worldwide occupancy increased 3.1 percentage points year over year to 79 percent. Third-quarter net income was $174 million, down from $200 million in the third quarter of 2013, although third-quarter earnings before interest, taxes, depreciation and amortization increased to $645 million in the third quarter from $570 million in 2013.