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How Hilton Worldwide Holdings (HLT) makes money
Hilton Worldwide Holdings (HLT) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Reimbursement Revenue brought in $2.0B (59%); Total revenues excluding reimbursable revenues brought in $1.4B (41%). Of every dollar of revenue, 27¢ was left as operating profit, 16¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Reimbursement Revenue | $2.0B | 59.2% | -0.8% | +7% |
| Total revenues excluding reimbursable revenues | $1.4B | 40.8% | -0.1% | +6% |
| ↳ Franchise and licensing fees | $815M | 24.5% | +0.9% | +10% |
| ↳ Ownership | $304M | 9.1% | -2% | -6% |
| ↳ Base and other management fees | $96.0M | 2.9% | -3% | +3% |
| ↳ Other revenues | $72.0M | 2.2% | 0% | +12% |
| ↳ Incentive management fees | $71.0M | 2.1% | +3% | +9% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $3.3B | 100.0% |
| Operating profit | $909M | 27.3% |
| Income tax | $186M | 5.6% |
| Net earnings | $536M | 16.1% |
| Operating cash flow | $721M | 21.7% |
| Free cash flow | $689M | 20.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $3.3B | +7% |
| Q2 2026 | $3.3B | +6% |
| Q1 2026 | $2.9B | +9% |
| Q4 2025 | $3.1B | +11% |
| Q3 2025 | $3.1B | +9% |
| Q2 2025 | $3.1B | +6% |
| Q1 2025 | $2.7B | +5% |
From Hilton Worldwide Holdings' 10-Q filed Oct 27, 2026 (on EDGAR).
Questions
How does Hilton Worldwide Holdings make money?
Hilton Worldwide Holdings (HLT) made $3.3B of revenue in the third quarter 2026 (Q3 2026), +7% from a year earlier. Reimbursement Revenue brought in $2.0B (59%); Total revenues excluding reimbursable revenues brought in $1.4B (41%). Of every dollar of revenue, 27¢ was left as operating profit, 16¢ was left as net earnings.
What is Hilton Worldwide Holdings' biggest business?
Reimbursement Revenue: $2.0B in the third quarter 2026, 59% of revenue, +7% from a year earlier.
What is Hilton Worldwide Holdings' profit margin?
Net earnings were $536M, 16.1% of revenue, in the third quarter 2026; the operating margin was 27.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.