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Big-city hotels
help boost Hilton’s
net 14 percent

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Bloomberg News

BEVERLY HILLS, Calif. -- Hilton Hotels Corp., owner of Doubletree, Hampton Inn and Hilton hotels in the United States, said second-quarter profit rose 14 percent on stronger demand for rooms at big-city hotels.

Net income rose to $88 million, or 23 cents a share, from profit from operations of $77 million, or 21 cents, in the year-ago quarter.

Profit exceeded the 21 cents a share average estimate of analysts polled by First Call/Thomson Financial. Revenue rose 11 percent to $916 million from $826 million.

Hilton said it raised room prices and sold more rooms at Hilton hotels on strong demand in Honolulu, New York, Chicago and San Francisco.

In Hawaii, Hilton owns and manages the 2,542-room Hilton Hawaiian Village, manages the 485-room Hilton Turtle Bay Resort on Oahu for investor owners and manages and part-owns the 1,241-room Hilton Waikoloa Village on the Big Island. It is also building the 453-room Kalia Tower, due to open next spring, at the Hilton Hawaiian Village.

In today's earnings report, Hilton also noted strong sales for its 275 time-share units in the tower.