Hilton soars ahead
Pre-tax profits at Hilton Group almost doubled last year to £311.3 million as the hotels and betting company achieved one of its best financial performances in recent years.
Hotel profits were up 17% as part of the rise from an overall pre-tax figure of £171.2 million in 2003. This was driven by an “encouraging performance” in London and in Europe in the second half of the year.
Hilton revealed that it is to raise up to £400 million in the next year through the sale of hotels. Eleven hotels in the UK are to be sold and further disposals are being examined.
The group’s hotels in the UK and Ireland contributed a 15% increase in profits to more than £95 million while profits from Europe and Africa rose by 28% to £58.2 million.
Hilton revealed a 94% rise in bookings through its branded websites in 2004 plus strong growth in business through GDSs. Overall reservations revenue via GDSs and the internet represented 24% of all rooms booked last year. The group expects half of all bookings will come from electronic channels by 2008.
Chief executive David Michels said 2004 was “the first uninterrupted year of hotel recovery for some time”.
He added: “On a less positive note, we felt the impact of increasing cost pressures”.
He said the group had seen a “satisfactory start” to 2005 with hotel trading improving in most parts of the world.
Hilton opened 17 hotels in 2004 and plans a further 28 in the next two years.
The group’s five properties in tsunami-affected regions remained operational after the Boxing Day tragedy but a terrorist attack at the Hilton resort hotel in Taba, Egypt, in October killed 31 guests and staff.
The company said: “Despite these tragic events, the group remains fully committed to working in these locations and we believe that helping to achieve economic recovery through tourism is, perhaps, the most importnat contribution.”
Report by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt