Hilton Group has enjoyed a health third quarter thanks to its hotels division, despite its betting and gaming business, Ladbrokes, having a tougher time.
The group’s profit for the four months to 31 October was up 10%, with increased occupancy and room rates seen in the hotel division.
Group chief executive David Michels said there had been a strong improvement in worldwide trading and business in Europe was improving benefiting the hotels business.
“All of Europe is doing well compared with last year and it’s hard to find an area that’s not improving,” he said.
But he added: “We have to remember that much of Europe was coming from a relatively low base.”
Hilton’s betting division saw e-gaming gross win – the amount it makes compared with what it pays out to the public - increase by 52% but telephone betting results fall 58%, as betting continued to migrate to online.
Like-for-like sales were slightly down but with acquisitions and new licenses gross win increased 5%.
Michels refused to comment on the state of the US-UK Hilton takeover deal which is currently in negotiation.
By Emily Manson
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