Filing Flows › Hilton Worldwide Holdings (HLT) › Q2 2026 › vs Q2 2025
Hilton Worldwide Holdings (HLT) Q2 2026 vs Q2 2025 (year over year)
Hilton Worldwide Holdings's revenue rose $204M (+7%) from $3.1B in Q2 2025 to $3.3B in Q2 2026. The biggest changes: Reimbursement Revenue +$171M (+9%); Total revenues excluding reimbursable revenues +$33.0M (+2%). Operating margin 25.7% against 24.8% (+0.9 pts).
Hilton Worldwide Holdings, Q2 2026: revenue $3.3B (+6% year over year), operating margin 25.7%, net earnings $482M, operating cash flow $472M. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Operating margin | 25.7% | 24.8% | +0.9 pts |
| Net margin | 14.4% | 14.1% | +0.3 pts |
| Free cash flow margin | 13.8% | 20.2% | -6.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Franchise and licensing fees | $808M | $745M | $63.0M | +8% |
| Ownership | $311M | $332M | −$21.0M | -6% |
| Base and other management fees | $99.0M | $97.0M | $2.0M | +2% |
| Other revenues | $72.0M | $77.0M | −$5.0M | -6% |
| Incentive management fees | $69.0M | $75.0M | −$6.0M | -8% |
| Total revenues excluding reimbursable revenues | $1.4B | $1.3B | $33.0M | +2% |
| Reimbursement Revenue | $2.0B | $1.8B | $171M | +9% |
| Revenue | $3.3B | $3.1B | $204M | +7% |
| Operating profit | $858M | $778M | $80.0M | +10% |
| Costs & expenses | $2.5B | $2.4B | $124M | +5% |
| Pre-tax earnings | $680M | $629M | $51.0M | +8% |
| Other expense, net | $178M | $149M | $29.0M | +19% |
| General & admin | $114M | $109M | $5.0M | +5% |
| Other operating costs | $2.4B | $2.2B | $119M | +5% |
| Net earnings | $482M | $442M | $40.0M | +9% |
| Income tax | $198M | $187M | $11.0M | +6% |
| Depreciation & amortization | $49.0M | $43.0M | $6.0M | +14% |
| Share-based compensation | $61.0M | $55.0M | $6.0M | +11% |
| Working capital & other | $120M | −$118M | $238M | — |
| Operating cash flow | $472M | $658M | −$186M | -28% |
| Free cash flow (OCF − capex) | $460M | $635M | −$175M | -28% |
| Capital expenditures | $12.0M | $23.0M | −$11.0M | -48% |
Questions
How much did Hilton Worldwide Holdings's revenue grow year over year in Q2 2026?
Hilton Worldwide Holdings's revenue rose $204M (+7%) from $3.1B in Q2 2025 to $3.3B in Q2 2026.
What drove Hilton Worldwide Holdings's revenue change in Q2 2026?
Reimbursement Revenue +$171M (+9%); Total revenues excluding reimbursable revenues +$33.0M (+2%).