Hilton presents development pipeline of approximately 543,000 rooms

Hilton has announced a significant development pipeline of approximately 543,000 rooms, requiring about $715 million in Hilton investment compared to over $75 billion from third parties. This pipeline is expected to generate an illustrative adjusted EBITDA of approximately $1 billion from stabilized operations, with an estimated value creation of $20 billion. The company also reported net debt of $12.6 billion and a net leverage of 3.2 times, emphasizing its fee-based model which accounts for 95% of adjusted EBITDA and targets a free cash flow of about 50% of adjusted EBITDA.