HLT — what changed in the latest 10-Q
A section-by-section comparison of HLT's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-27 vs the prior 10-Q · 2026-07-28
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +15 | −13 | ~27 | 30 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | Text added/removed | +1 | −2 | 0 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +6 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-27
System-wide RevPAR increased during the three and nine months ended September 30, 2026, due to increases in both system-wide ADR and occupancy. In the U.S., for both the three and nine months ended September 30, 2026, RevPAR increased due to strength in business and group and also benefited from gro…
The currency neutral increases in franchise fees at our comparable franchised hotels of $29 million and $73 million for the three and nine months ended September 30, 2026, respectively, were primarily due to increases in RevPAR. During the three months ended September 30, 2026, RevPAR at our compara…
The increases in franchise fees included net increases of $16 million and $46 million during the three and nine months ended September 30, 2026, respectively, as a result of net hotel additions between the periods, as well as increases of $11 million and $15 million during the three and nine months …
The currency neutral increase in base management fees at our comparable managed hotels of $12 million for the nine months ended September 30, 2026 was primarily due to increased RevPAR. During the nine months ended September 30, 2026, RevPAR at our comparable managed hotels increased 4.0 percent, du…
The increase in incentive management fees for the three months ended September 30, 2026 was primarily attributable to increased hotel profitability.
Text removed vs the prior filing · source: 10-Q · 2026-07-28
System-wide RevPAR increased during the three and six months ended June 30, 2026, primarily due to improvements in system-wide ADR, which included the impact of inflation, and special events. In the U.S., for both the three and six months ended June 30, 2026, RevPAR increased due to strength in busi…
The currency neutral increases in franchise fees at our comparable franchised hotels of $26 million and $44 million for the three and six months ended June 30, 2026, respectively, were primarily due to increases in RevPAR. During the three months ended June 30, 2026, RevPAR at our comparable franchi…
The increases in franchise fees included net increases of $15 million and $28 million during the three and six months ended June 30, 2026, respectively as a result of net hotel additions between the periods. The increase in franchise fees for the three months ended June 30, 2026 was partially offset…
The increases in base management fees were primarily due to increases at our comparable managed hotels as a result of increases in RevPAR. During the three months ended June 30, 2026, RevPAR at our comparable managed hotels increased 1.9 percent, due to an increase in ADR of 2.1 percent, partially o…
months ended June 30, 2026, RevPAR at our comparable managed hotels increased 3.1 percent, due to increases in occupancy of 0.7 percentage points and ADR of 2.1 percent.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-10-27
The Company maintains a set of disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act, is reco…
Text removed vs the prior filing · source: 10-Q · 2026-07-28
The Company maintains a set of disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed by the Company in reports that it files or submits under the Exchange Act, is reco…
of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Any controls and procedures, no matter how well designed and operated, can provide only reasonable, not absolute, assurance of achieving the desired contr…
Other information
Text added vs the prior filing · source: 10-Q · 2026-10-27
On September 15, 2026, Laura Fuentes, Executive Vice President and Chief Human Resources Officer, adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) for the sale of up to 5,500 shares of our common stock until May 21, 2027.
Disclosure Pursuant to Section 13(r) of the Securities Exchange Act of 1934
Pursuant to Section 13(r) of the Exchange Act, an issuer is required to disclose in its annual or quarterly reports, as applicable, whether it or any of its affiliates knowingly engaged in certain activities, transactions or dealings relating to Iran or with individuals or entities designated pursua…
During the quarter ended September 30, 2026, the entity that is the indirect majority beneficial owner of the Hilton Frankfurt Gravenbruch and the indirect majority beneficial owner of the physical land and building where the Hilton Frankfurt City Centre is located was sanctioned by the U.S. Departm…
In response, affiliates of the Company promptly wound down all of the Company’s operations with respect to the Hilton Frankfurt Gravenbruch. During the wind-down, affiliates of the Company managed the Hilton Frankfurt Gravenbruch pursuant to a general license issued by OFAC that lasted for a period …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice