Hilton Worldwide posted net income of $536 million for the third quarter of 2026, a 27% increase from the same period in 2025, while simultaneously announcing the transfer of its stock listing from the New York Stock Exchange to Nasdaq, effective November 5. The earnings, released before market open on October 27, set multiple company records.
Hilton, the world’s largest hotel franchise company by room count, generated adjusted EBITDA of $1.058 billion in Q3 2026. Franchise and licensing fees reached $815 million for the quarter, a $76 million increase versus Q3 2025. System-wide comparable RevPAR climbed 5.8% year over year on a currency-neutral basis, with US properties recording a 7.0% gain. The company confirmed full-year guidance of $1.909 billion to $1.923 billion in net income and $4.060 billion to $4.080 billion in adjusted EBITDA.
Record Openings and a Pipeline That Has Never Been Larger
Hilton reported its highest number of organic hotel openings in company history during Q3 2026. A total of 182 hotels, representing 27,000 rooms, were added to the system between July and September. The total development pipeline stood at 543,100 rooms across 3,869 hotels as of September 30, 2026, a 5% expansion from the prior year. The company approved 30,500 additional rooms for future development during the quarter alone. Net unit growth is tracking near the midpoint of the full-year guidance range of 6.0% to 7.0%.
Franchise Fees Reach $815 Million in a Single Quarter
The growth in Hilton’s franchise and licensing fees reflects both the expansion of its global network and the RevPAR improvement registered across its 22 brands, ranging from the economy-focused Hampton by Hilton to the ultra-luxury Waldorf Astoria collection.
At $815 million for Q3 alone, these fees climbed approximately 10.3% compared with the same quarter in 2025, according to the company’s SEC filing. This revenue stream, which flows from royalties, program fees, and licensing charges paid by hotel owners operating under a Hilton brand, forms a core component of the company’s asset-light business model. Hilton operates more than 8,000 hotels in 138 countries.
Hilton franchise and licensing fees in Q3 2026 alone, up 10.3% from Q3 2025. (Source: Hilton 8-K, SEC EDGAR, October 27, 2026)
The Nasdaq Transfer: A Technology Identity as Much as a Financial Move
On October 20, 2026, Hilton announced that its shares would transfer from the New York Stock Exchange to Nasdaq, effective November 5, with the HLT ticker symbol unchanged. The company cited alignment with its technology growth strategy as the primary rationale. Nassetta pointed to the recent appointment of a new chief technology officer as part of a broader investment in digital capabilities, saying that “Nasdaq is closely aligned with our growth ambitions.”
Marriott International, Hilton’s closest rival by system size, made a similar exchange transfer in 2013. Industry observers have noted that a Nasdaq listing positions a hospitality company alongside technology-oriented firms in the index profiles that institutional investors track.
Good to know
Hilton will last trade on the NYSE on November 4, 2026. Its shares open on Nasdaq the following morning under the same ticker, HLT. The transfer does not affect existing shareholders or the company’s corporate structure.
A Q4 Outlook Consistent With a Record Year
For the fourth quarter of 2026, Hilton projected RevPAR growth of 3.0% to 3.5% and net income of $508 million to $522 million, with adjusted EBITDA of $1.047 billion to $1.067 billion. The company plans to return approximately $3.5 billion to shareholders through dividends and buybacks over the full year. Diluted adjusted EPS for the full year is guided at $9.07 to $9.13. The Nasdaq transition, the record Q3 pipeline, and the sustained RevPAR momentum together mark a notably active quarter for one of the most recognized names in hotel franchising worldwide.
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