AP NEWS
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Hilton Increases Stock Repurchase Authorization By $1.5 Billion

February 28, 2019

MCLEAN, Va.--(BUSINESS WIRE)--Feb 28, 2019--The Board of Directors of  Hilton Worldwide Holdings Inc.  (NYSE: HLT) has authorized the repurchase of an additional $1.5 billion of common stock under the Company’s existing stock repurchase program, bringing the total amount currently authorized for repurchase to approximately $1.9 billion.

Hilton may purchase shares in the open market, in privately negotiated transactions or in such other manner as determined by Hilton, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission (“SEC”). The amount and timing of any repurchases made under the stock repurchase program will depend on a variety of factors, including available liquidity, cash flow and market conditions. The stock repurchase program does not obligate Hilton to repurchase any dollar amount or number of shares of common stock and the program may be suspended or discontinued at any time.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements include, but are not limited to, statements related to Hilton’s stock repurchase program. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “projects,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties, including, among others, risks inherent to the hospitality industry, macroeconomic factors beyond Hilton’s control, competition for hotel guests and for management and franchise agreements, risks related to doing business with third-party hotel owners, performance of Hilton’s information technology systems, growth of reservation channels outside of Hilton’s system, risks of doing business outside of the United States of America, and Hilton’s indebtedness. Additional factors that could cause Hilton’s results to differ materially from those described in the forward-looking statements can be found under the section entitled “Part I—Item 1A. Risk Factors” of the Annual Report on Form 10-K for the fiscal year ended December 31, 2018, filed with the SEC, as such factors may be updated from time to time in Hilton’s periodic filings with the SEC, which are accessible on the SEC’s website at  www.sec.gov. Accordingly, there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this press release and in Hilton’s filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

About Hilton

Hilton (NYSE: HLT) is a leading global hospitality company with a  portfolio  of 17 world-class brands comprising more than 5,600 properties with nearly 913,000 rooms, in 113 countries and territories. Dedicated to fulfilling its mission to be the world’s most hospitable company, Hilton earned a spot on the 2018 world’s best workplaces list, and has welcomed more than 3 billion guests in its nearly 100 year history. Through the award-winning guest loyalty program, Hilton Honors, nearly 85 million members who book directly with Hilton have access to instant benefits, including digital check-in with room selection, Digital Key, and Connected Room. Visit  newsroom.hilton.com  for more information, and connect with Hilton on  FacebookTwitterLinkedInInstagram, and  YouTube.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190228006031/en/

CONTACT: Jill Slattery

Investor Contact

1-703-883-6043

jill.slattery@hilton.comNigel Glennie

Media Contact

1-703-883-5262

nigel.glennie@hilton.com

KEYWORD: UNITED STATES NORTH AMERICA VIRGINIA

INDUSTRY KEYWORD: TRAVEL VACATION LODGING

SOURCE: Hilton Worldwide Holdings Inc.

Copyright Business Wire 2019.

PUB: 02/28/2019 05:00 PM/DISC: 02/28/2019 05:00 PM

http://www.businesswire.com/news/home/20190228006031/en