> ## Content Index > Fetch the complete content index at: https://www.bullished.co/llms.txt > Use this file to discover other available public pages before exploring further. # Hilton CEO Concedes Owners Have Had A 'Tough Run' And Says Rise 2 Is Coming In The First Quarter - URL: https://www.bullished.co/hilton-ceo-concedes-owners-have-had-a-tough-run-and-says-rise-2-is-coming-in-the-first-23d95f73/ - Published: 2026-10-27T14:26:07.000Z - Updated: 2026-10-27T14:26:07.000Z - Description: Chris Nassetta says a second system-fee effort is due next quarter, and that over 80% of next year's unit growth is already on the books. - Author: Matteo Parrino - Tags: Earnings, HLT, Industry: Consumer Discretionary Hilton Chief Executive Chris Nassetta told analysts on the company's [third-quarter earnings call](https://qz.com/hilton-raises-revenue-per-room-forecast-earnings-102726?ref=bullished.co) Tuesday that hotel owners have had "a tough run," and that a second round of its owner-relief program, "Rise 2," should be out in the first quarter of next year. ## Owners, Rise and a second round A Morgan Stanley analyst asked about the noise between franchisees and franchisor, and how owner margins look now. Nassetta described years of anemic growth, high expense growth, a COVID shock and then an inflation spike, and said: "It's been a tough run." He said his talks with owners, including thousands at a summer conference in Vegas, are "quite constructive." The original Rise program, a reduction in system fees launched in June 2025, cut loyalty costs for everyone by 30 basis points (0.30 percentage points), he said, and gave 50 basis points to hotels that clear a customer-satisfaction quality gate. About half the system gets through it. Hotels outside the gate "want it," Nassetta said, which he called the behavior [Hilton](https://www.bullished.co/tag/hlt/) is after. He said Hilton is working on Rise 2 and expects to be out with it in the first quarter. He would not go into detail, but said the company will look again at system and loyalty costs for savings from technology, AI, process change and scale that could reach owners. "There is no Hilton without our owners," he said. ## Over 80% of next year's growth is booked Asked by a UBS analyst about confidence in 6% to 7% unit growth, Nassetta said a little over 80% of next year's growth is already on the books. Conversions, hotels switching into the system, should settle in the mid-30s as a share of openings, versus about 40% this year, as more new construction arrives. Hilton, which runs and licenses hotels from luxury to focused-service brands and earns most of its revenue from fees paid by owners, reported third-quarter system-wide revenue per available room [up 5.8%](https://qz.com/hilton-raises-revenue-per-room-forecast-earnings-102726?ref=bullished.co) and adjusted EBITDA of $1.5 billion, up 8.4% from a year earlier. For the full year it now expects revenue per available room growth of 4% to 4.5%, and it remains on track to return $3.5 billion to shareholders. ## Fourth quarter and 2027 outlook For the fourth quarter, Chief Financial Officer Kevin Jacobs guided to adjusted EBITDA of $1.047 billion to $1.067 billion and adjusted earnings per share of [$2.32 to $2.38](https://www.marketwatch.com/story/hilton-raises-fy-outlook-after-world-cup-boosts-3q-results-2163f8b4?ref=bullished.co). Nassetta said he feels "pretty darn good" that global revenue per available room growth next year will land in the 3% to 4% range. The company's market value was $79.2 billion in Tuesday morning trading. Nassetta said Hilton will update investors after it closes out the year, with Rise 2 details expected in the first quarter. ### Sources - [Hilton raises full-year revenue per room forecast in Q3 2026 earnings](https://qz.com/hilton-raises-revenue-per-room-forecast-earnings-102726?ref=bullished.co) — qz.com - [Hilton Raises FY Outlook After World Cup Boosts 3Q Results](https://www.marketwatch.com/story/hilton-raises-fy-outlook-after-world-cup-boosts-3q-results-2163f8b4?ref=bullished.co) — MarketWatch - [Hilton Checks In With Strong Profits, But US Midterms And Middle East Worries Come Knocking](https://www.benzinga.com/markets/earnings/26/10/62618917/hilton-checks-in-with-strong-profits-but-us-midterms-and-middle-east-worries-come-knocking?ref=bullished.co) — benzinga.com - [Hilton Reports Third Quarter Results – Company Announcement - FT.com](https://markets.ft.com/data/announce/detail?dockey=600-202610270600BIZWIRE%5FUSPRX%5F%5F%5F%5F20261027%5FBW314186-1&ref=bullished.co) — Financial Times - [Hilton shares drop as investors weigh results, full-year outlook (HLT:NYSE) | Seeking Alpha](https://seekingalpha.com/news/4657801-hilton-shares-drop-as-investors-weigh-results-full-year-outlook?ref=bullished.co) — seekingalpha.com ### More on Hilton Worldwide - [Hilton CEO Sees 2027 RevPAR Growth Of 3% To 4% Even As Fourth-Quarter Guide Slows](https://www.bullished.co/hilton-ceo-sees-2027-revpar-growth-of-3-to-4-even-as-fourth-quarter-guide-slows-09e29d00/) - [Hilton Third-Quarter Profit Jumps To $536 Million, But Full-Year Outlook Gets Trimmed](https://www.bullished.co/hilton-third-quarter-profit-jumps-to-536-million-but-full-year-outlook-gets-trimmed-e44da5db/) - [Hilton Plans To Move Its HLT Stock From NYSE To Nasdaq, With First Trading Day Set For November 5](https://www.bullished.co/hilton-plans-to-move-its-hlt-stock-from-nyse-to-nasdaq-with-first-trading-day-set-for-230549fd/) [All Hilton Worldwide (HLT) coverage →](https://www.bullished.co/tag/hlt/)