[PDF] [PDF] Presentation - Hilton – Investor Relations

[PDF] Investor Presentation - Hilton – Investor Relations

territories, Hilton is one of the world's largest hotel companies 1 Resulting in: Record pipelines across all brand segments with minimal HLT capital investment  

[PDF] Presentation - Hilton – Investor Relations

for the company and our hotel owners • Satisfied owners continue to invest in growing Hilton's brands, driving leading organic net unit growth with de minimis  

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Investor

Presentation

August 2019

Waldorf Astoria Versailles

•Award-winning brands that serve guests for virtually any lodging need they have anywhere in the world •Leads to satisfied customers, including approximately 94 million Hilton Honors loyalty members •Creates a network effect that drives a strong global RevPAR premium of 15% (a) •These premiums drive strong financial returns for the company and our hotel owners •Satisfied owners continue to invest in growing

Hilton's brands, driving leading organic net unit

growth with de minimisuse of capital •We believe the reinforcing nature of these activities will allow Hilton to outperform the competition

(a) Source: STR (six months ended June 30, 2019). “RevPAR" or “Revenue per Available Room" represents hotel room revenue divided by room nights available to guests for a givenperiod.

© 2019 Hilton Proprietary1

HLT VALUE PROPOSITION

Hilton's scale, global presence and leading brands at multiple price points drive a network effect delivering industry-leading performance

Satisfied

OwnersLeading

Brands serving

virtually any lodging need anywhere

Satisfied,

Loyal

Customers

Premium,

Growing

Market ShareLeading

Hotel

Supply &

PipelineHLT Financial

Performance

1.THE BEST-PERFORMING PORTFOLIO OF BRANDS IN THE

BUSINESS

2.A RESILIENT, FEE-BASED BUSINESS

3.A RECORD PIPELINE GENERATING SUBSTANTIAL

RETURNS ON MINIMAL CAPITAL INVESTMENT

4.SUPPORTED BY FAVORABLE FUNDAMENTALS AND A

DISCIPLINED STRATEGY

5.GENERATING SIGNIFICANT FREE CASH FLOW FOR

SHAREHOLDERS

© 2019 Hilton Proprietary2

Investment Thesis

Upper

Upscale

31%

Upscale

33%Upper

Midscale

32%Luxury

3%Other

1% 3 (a)Source: STR (sixmonths ended June 30, 2019).

(b)Based on last twelve months (“LTM") period ended 6/30/2019 calculated as the six months ended 6/30/2019 plus the year ended 12/31/2018 less the six months ended 6/30/2018. For Adjusted EBITDA, excludes corporate and other.

(c)Room count as of 6/30/2019. Other includes HGV. Industry-leading, clearly defined, global brands drive a

15% global RevPAR premium

(a) Luxury & LifestyleFull ServiceAll SuitesFocused ServiceTimeshare

1.THE BEST-PERFORMING PORTFOLIO OF

BRANDS IN THE BUSINESS

With ~

5,900 properties & ~939,000 rooms in 114 countries and territories,

Hilton is one of the world"s largest and most diversified hotel companies

© 2019 Hilton Proprietary

ROOMS BY CHAIN

SCALE (c) U.S.

73%Europe

11%Asia

Pacific

10%Americas

Non-U.S.

3%Middle East &

Africa

3%

ADJ. EBITDA BY GEOGRAPHY

(b)

No single U.S. market

accounts for more than

3% of Adj. EBITDA

4 Hilton Honors loyalty program enables a better, more personalized hotel stay, driving incremental value to the system

© 2019 Hilton Proprietary

1.THE BEST-PERFORMING PORTFOLIO OF

BRANDS IN THE BUSINESS

60%+

Share of system

Occupancy

(b)

INNOVATIVE NEW FEATURES & PARTNERSHIPS

POINTS & MONEY 2.0

HILTON HONORS IS OFFERING MORE VALUE TO MORE MEMBERS

Can choose any

combination of Points and money to pay for a stay, using an interactive “Slider."

SHOP WITH POINTS

The first hotel loyalty

program to enable members to use their Points on

Amazon.com.

POINTS POOLING

Can pool Points into a single

account (for free), generating incremental reward stays and increasing engagement. (a)As of June30, 2019. (b)For the threemonths ended June 30, 2019. +16% CAGR 2012

36M94M

2019
(a) +490 BPS YOY

Members

RIDESHARING

When a member rides with

Lyft, they earn

Hilton Honors Points

5 We are the most innovative hotel company, leading in delivering personalized experiences for guests in every interaction they have with Hilton

© 2019 Hilton Proprietary

1.THE BEST-PERFORMING PORTFOLIO OF

BRANDS IN THE BUSINESS

Our Hilton Honors app is one example of how we offer end-to-end experiences for guests: •Our Digital Key and welcome experience empowers guests to pick their room before arrival and bypass the front desk •At nearly 1,400 of our hotels, Hilton Explore allows guests to explore neighborhoods surrounding their hotel like locals •Connected Room enables guests to control lighting, HVAC and entertainment options •We partner with SHOWTIME and Netflix to allow guests to stream their favorite content •Digital Check-Out gives guests the convenience of checking out of their room in the app 4500

Digital Key hotels

68
million

Doorsopened with Digital Key

3900

Connected Rooms

~94 million

Hilton Honors Members

+20% YOY 13 million

Digital Keys downloaded

+11% CAGR

Adj. EBITDA from fees,

90% revenuedriven

(a) 90%
~7% NUG (e) 2009
(d) 2019
(a) of total fees franchisedriven (a) ~75%

Majority Franchise Fees

$814M$2,211M

MANAGEMENT & FRANCHISE FEES

(c)

Capital Efficient Growth

© 2019 Hilton Proprietary

4.9% in

place rate vs. 5.6% published rate (b) ~$140M annual

Adj. EBITDA

+/-1%of RevPAR growth is roughly +/-1%of Adjusted EBITDA growth

Increasing franchise fees as contracts

roll over at higher published rates $240M Total HLT investment in pipeline, with over

50% under construction

and average contract term of19 years

Top-Line Driven

6

2.A RESILIENT, FEE-BASED BUSINESS

(a)Basedon LTM period ended 6/30/2019. For Adjusted EBITDA, excludes corporate and other.

(b)As of or for the six months ended 6/30/2019. Effective franchise rate is up 92 bps since FY 2007 and is calculated as the total franchise fee revenue divided by total franchise room revenue. Published franchise rate is calculated as the weighted

average of current published brand franchise fee rates. (c)Excludes amortization of contract acquisition costs recorded as contra-revenue. (d)Does not include the effect of the revenue recognition standard adopted on January 1, 2018. (e)Net Unit Growth (“NUG") based on LTM period ended 6/30/2019.

Meaningful Fee Growth

Full

Service

40%

Focused

Service

60%
U.S.

46%Europe

8%Asia

Pacific

30%Americas

Non-U.S.

6%

Middle East

& Africa 10%

DIVERSIFIED PIPELINE OF BEST PERFORMING BRANDS

Resulting in: Record pipelines across all brand segments with minimal HLT capital investment

7© 2019 Hilton Proprietary

Illustrative

Value Creation

(a) $10,000M % Under Construction 50%+
% New Brands ~30%

HLT Investment

(b) $240M373K

Pipeline rooms

$750M

Stabilized Pipeline

Adj. EBITDA

(a)Based on 13.5 Illustrative Adjusted EBITDA. Figure is illustrative only and does not reflect the actual valuation or the viewofHilton with respect to proper valuation. The market may attribute a different valuation. Pipeline as of 6/30/2019..

(b)Reflects committed investment.

3.A RECORD PIPELINE GENERATING SUBSTANTIAL

RETURNS ON MINIMAL CAPITAL INVESTMENT

3 rd

Party Investment

$50B

PIPELINE BY GEOGRAPHY

(a)

PIPELINE BY SEGMENT

(a)

8© 2019 Hilton Proprietary

Development focused on balanced global growth

[brand portfolio drives high quality, high return, industry-leading organic growth enabled by demand patterns around the world]

Existing

Room

SupplyRooms Under

Construction

% of Total% of Total

United States13%24%

Americas ex. U.S. 3%15%

Europe2%9%

Middle East, Africa3%14%

Asia Pacific2%21%

Global System5%18%

LEADING SHARE OF FUTURE

DEVELOPMENT IN EVERY REGION

(a)

GLOBAL SHARE OF ROOMS UNDER

CONSTRUCTION/EXISTING SHARE

(a) 3.5x 2.6x 1.8x

DEVELOPMENT MARKET SHARE IS

~4X LARGER THAN CURRENT SHARE

3.A RECORD PIPELINE GENERATING SUBSTANTIAL

RETURNS ON MINIMAL CAPITAL INVESTMENT

(a)Source: STR Global Census, July2019 (adjusted to June 2019) and STR Global New Development Pipeline, July 2019.

40%57%49%43%47%43%31%34%44%41%60%43%

51%57%53%

57%69%66%56%

59%
1924

182536

43

455257

57

InternationalU.S.

GLOBAL SYSTEM ROOM GROWTH

2007-TODAY

(a)

HLT NET UNIT GROWTH (000s of rooms)

90%
90%
68%
51
49%
47%
28%
9

© 2019 Hilton Proprietary

(a)Note: “2007" metrics are as of 6/30/07, except for H which is as of 12/31/07; “Today" metrics are as of most recent reportingasof 7/31/2019 for HLT and peers.

(b)Room count includes Q4 acquisition of Two Roads Hospitality, adding approximately 12,000 rooms. Excluding acquisition growth would be 84%.

(c)ReflectsMAR acquisition of HOT in both periods.. (d)Excl. timeshare properties due to lack of 2007 data availabilityfor WYN.

(e)Accor data reflects sale of Motel 6 and Studio 6 brands and the acquisition of Fairmont Raffles Hotels International Group.

(f)As a % of gross room openings. (c) (e) (d) Industry-leading growth with great sight lines into future development 9

3.A RECORD PIPELINE GENERATING SUBSTANTIAL

RETURNS ON MINIMAL CAPITAL INVESTMENT

This page contains additional trademarks, service marks and trade names of others, which are the property of their respective owners. All trademarks, service marks and trade names appearing in this presentation are, to our knowledge, the property of their respective owners.

Source: Company filings.

Conversions

(f)

23%46%38%35%26%29%22%20%25%20%

(b) 1.8BN 60%

Expected

proportion of population by 2030

GLOBAL TOURIST ARRIVALS

400M more

annual trips expected by 2030
16.0 1.8

UNITED STATES

CHINA 1.3

BRAZIL

0.2 INDIA

GROWING CUSTOMER BASE THAT

CAN & WANT TO TRAVELHOTEL UNDER-PENETRATION IN

HIGH GROWTH MARKETS

GLOBAL MIDDLE CLASS

10© 2019 Hilton Proprietary

(hotel rooms per 1,000 people)

Source: STR, UNWTO, World Bank, OECD

4.SUPPORTED BY STRONG FUNDAMENTALS...

2x

Annual spend

expected to approximately double over next 10 years

GLOBAL TRAVEL SPEND

•Performance-driven,purpose-ledculture based on common vision, mission, values and key strategic prioritiesALIGN CULTURE &

ORGANIZATION

WIN ON CUSTOMER

EXPERIENCE

EXPAND GLOBAL

FOOTPRINT

MAXIMIZE

PERFORMANCE

•Maximize relevance ofexisting brands, strategically add new brands •Build on leading commercial capabilities to maximize revenues •Lead in digital and personalization capabilitiesquotesdbs_dbs20.pdfusesText_26