Hilton Hotels Corp. shared its fourth-quarter numbers on Wednesday and it was all smiles for the Beverly Hills hotel operator. Profits nearly doubled in the fourth quarter to $207 million from last year's $105 million, underpinned by increases in revenue per available room and residual benefits from Hilton's $5.7 billion purchase of Hilton International last February. RevPAR grew 10.2 percent, driven by growth in Chicago, New York, San Francisco and Phoenix. Continued profiting by hoteliers coupled with stagnant supply growth could still pose headaches for travelers and travel agents, who will face continued rising room rates and fewer discounts, especially in the major U.S. cities.
