Hilton Worldwide Holdings Inc.
Hilton Worldwide Holdings Inc.
Insider Sentiment (TTM):
Last Purchase:2024-09-10Last Sale:2026-02-17Shares Purchased (TTM):0Shares Sold (TTM):126,194
Institutional Sentiment:
As of:2026-03-31Institutional Shares Owned:193,273,644Shares Outstanding:229,000,000Institutional Ownership Pct.:84.40%
Earnings Market Reaction:
Filing Date:2026-04-28Price on Filing Date:N/APrevious Close:N/A% Change:N/A
Subscribe to unlock 17+ years of financial data
Subscribe to unlock 17+ years of data
Financial Statements
Values in Millions ($) | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Guest Loyalty Program | 1,310 | 1,289 | -105 | 54 | 1,480 | 1,377 | 63 | -15 | 1,288 | 1,202 | -58 | 39 | |||||
Variable Interest Entity Primary Beneficiary | - | - | - | - | - | - | - | 5 | 48 | - | 11 | 9 | |||||
Managementand Franchise Agreements | - | 1,471 | - | - | - | 1,235 | - | - | - | 1,064 | - | - | |||||
Management And Franchise Agreements | 1,476 | - | 104 | 24 | 1,238 | - | -2 | 126 | 1,087 | - | 28 | -2 | |||||
Other Intangible Assets | 200 | 206 | 32 | -2 | 194 | 194 | 12 | 2 | 173 | 173 | 3 | 3 | |||||
Cash And Cash Equivalents At Carrying Value | 564 | 918 | 1,057 | 371 | 731 | 1,301 | 1,580 | 731 | 1,346 | 800 | 698 | 806 | |||||
Restricted Cash And Cash Equivalents At Carrying V… | 55 | 52 | 69 | 77 | 76 | 75 | 75 | 71 | 74 | 75 | 81 | 77 | |||||
Accounts Receivable Net Current | 1,684 | 1,690 | 1,652 | 1,676 | 1,575 | 1,583 | 1,597 | 1,578 | 1,467 | 1,487 | 1,396 | 1,402 | |||||
Assets Current | |||||||||||||||||
Assets Current | 2,772 | 2,996 | 3,119 | 2,469 | 2,764 | 3,272 | 3,573 | 2,689 | 3,183 | 2,614 | 2,484 | 2,580 | |||||
Prepaid Expense Current | 266 | 219 | 225 | 207 | 234 | 193 | 191 | 166 | 193 | 131 | 157 | 146 | |||||
Other Assets Current | 203 | 117 | 116 | 138 | 148 | 120 | 130 | 143 | 103 | 121 | 152 | 149 | |||||
Goodwill | 5,070 | 5,081 | 5,079 | 5,084 | 5,049 | 5,035 | 5,065 | 5,042 | 5,044 | 5,052 | 5,033 | 5,048 | |||||
Indefinite Lived Intangible Assets Excluding Goodw… | 5,014 | 5,023 | 5,022 | 5,027 | 5,000 | 4,990 | 5,015 | 4,994 | 4,831 | 4,846 | 4,831 | 4,842 | |||||
Assets Noncurrent | |||||||||||||||||
Assets Noncurrent | 13,613 | 13,778 | 13,522 | 13,435 | 13,279 | 13,250 | 13,116 | 13,048 | 12,749 | 12,787 | 12,716 | 12,717 | |||||
Operating Lease Right Of Use Asset | 556 | 577 | 558 | 584 | 565 | 567 | 620 | 610 | 594 | 618 | 645 | 668 | |||||
Property Plant And Equipment Net | 665 | 684 | 447 | 437 | 420 | 411 | 395 | 378 | 377 | 382 | 305 | 297 | |||||
Deferred Income Taxes And Other Assets Noncurrent | 233 | 252 | 318 | 318 | 318 | 318 | 140 | 140 | 140 | 140 | 204 | 204 | |||||
Other Assets Noncurrent | 399 | 484 | 508 | 531 | 495 | 500 | 483 | 496 | 503 | 512 | 545 | 536 | |||||
Assets | 16,385 | 16,774 | 16,641 | 15,904 | 16,043 | 16,522 | 16,689 | 15,737 | 15,932 | 15,401 | 15,200 | 15,297 | |||||
Accounts Payable And Accrued Liabilities Current | 2,376 | 2,336 | 2,597 | 2,304 | 2,160 | 2,124 | 2,074 | 1,913 | 1,935 | 1,979 | 1,876 | 1,694 | |||||
Long Term Debt And Capital Lease Obligations Curre… | 25 | 25 | 35 | 35 | 535 | 535 | 538 | 539 | 38 | 39 | 37 | 35 | |||||
Liabilities Current | |||||||||||||||||
Deferred Revenue Current | 845 | 858 | 637 | 712 | 660 | 664 | 543 | 501 | 513 | 502 | 460 | 460 | |||||
Liabilities Current | 4,556 | 4,508 | 4,698 | 4,585 | 4,835 | 4,700 | 4,491 | 4,226 | 3,774 | 3,722 | 3,561 | 3,435 | |||||
Liabilities Noncurrent | |||||||||||||||||
Long Term Debt And Capital Lease Obligations | 12,334 | 12,338 | 11,603 | 10,909 | 10,617 | 10,616 | 10,626 | 9,633 | 10,135 | 9,157 | 8,682 | 8,696 | |||||
Operating Lease Liability Noncurrent | 699 | 730 | 713 | 749 | 728 | 735 | 798 | 786 | 775 | 808 | 804 | 839 | |||||
Deferred Revenue Noncurrent | 1,697 | 1,648 | 1,418 | 1,337 | 1,311 | 1,300 | 1,241 | 1,202 | 1,152 | 1,132 | 1,098 | 1,022 | |||||
Deferred Tax Liabilities Deferred Expense | 278 | 322 | 335 | 287 | 296 | 322 | 357 | 368 | 373 | 401 | 706 | 710 | |||||
Other Liabilities Noncurrent | 977 | 950 | 1,002 | 960 | 956 | 941 | 989 | 975 | 987 | 998 | 691 | 690 | |||||
Liabilities | 22,252 | 22,120 | 21,532 | 20,453 | 20,382 | 20,211 | 20,119 | 18,815 | 18,749 | 17,748 | 16,953 | 16,720 | |||||
Redeemable Noncontrolling Interest Equity Common C… | 11 | 13 | 14 | 15 | 16 | 17 | 20 | 21 | - | 0 | - | - | |||||
Equity | |||||||||||||||||
Common Stock Value Outstanding | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | |||||
Treasury Stock Value | -15,259 | -14,428 | -13,672 | -12,907 | -12,154 | -11,256 | -10,514 | -9,781 | -9,060 | -8,393 | -7,647 | -6,956 | |||||
Additional Paid In Capital | 11,254 | 11,274 | 11,220 | 11,174 | 11,101 | 11,130 | 11,072 | 11,022 | 10,954 | 10,968 | 10,925 | 10,879 | |||||
Retained Earnings Accumulated Deficit | -1,158 | -1,508 | -1,770 | -2,155 | -2,559 | -2,822 | -3,290 | -3,597 | -3,981 | -4,207 | -4,316 | -4,654 | |||||
Accumulated Other Comprehensive Income Loss Net Of… | -745 | -729 | -713 | -705 | -769 | -782 | -741 | -763 | -749 | -731 | -728 | -703 | |||||
Stockholders Equity | -5,878 | -5,359 | -4,932 | -4,590 | -4,355 | -3,706 | -3,470 | -3,099 | -2,817 | -2,347 | -1,763 | -1,431 | |||||
Minority Interest | 27 | 29 | 27 | 26 | 23 | 21 | 20 | 17 | 16 | 13 | 10 | 8 | |||||
Liabilities And Stockholders Equity | 16,385 | 16,774 | 16,641 | 15,904 | 16,043 | 16,522 | 16,689 | 15,737 | 15,932 | 15,401 | 15,200 | 15,297 | |||||
Allowance For Doubtful Accounts Receivable Current | 166 | 163 | 160 | 162 | 159 | 145 | 144 | 141 | 137 | 131 | 124 | 126 | |||||
Common Stock Par Or Stated Value Per Share | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | |||||
Common Stock Shares Authorized | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | 30,000 | |||||
Shares Outstanding | 228 | 230 | 233 | 236 | 239 | 242 | 245 | 248 | 251 | 253 | 258 | 262 | |||||
Treasury Stock Common Shares | 109 | 107 | 104 | 101 | 98 | 94 | 91 | 88 | 84 | 81 | 76 | 72 | |||||
Subscribe to unlock 17+ years of financial data, unlimited metrics, and saved tables
Subscribe to unlock 17+ years of data, unlimited metrics, and saved tables
Custom Table
0/5
Search a metric to start building a table
Subscribe to unlock 17+ years of financial data, unlimited metrics, transformations, and saved visuals
Subscribe to unlock 17+ years of data, unlimited metrics, transformations, and saved visuals
Interactive Financial Visualizations
0/1
Search a metric to start building a visual
Subscribe to unlock 17+ years of financial data
Subscribe to unlock 17+ years of data
Earnings Market Reaction
| Fiscal Year | Q1 1 Month | Q1 2 Month | Q1 3 Month | Q2 1 Month | Q2 2 Month | Q2 3 Month | Q3 1 Month | Q3 2 Month | Q3 3 Month | Q4 1 Month | Q4 2 Month | Q4 3 Month |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -0.66% | 7.93% | - | - | - | - | - | - | - | - | - | - |
| 2025 | 8.17% | 9.98% | 20.51% | 0.33% | 3.01% | -2.69% | -1.96% | 1.94% | 9.26% | -8.10% | -6.16% | -1.96% |
| 2024 | -0.18% | 2.82% | 7.91% | 8.00% | 15.23% | 16.09% | 6.45% | 8.31% | 3.14% | -1.95% | -16.48% | -18.73% |
| 2023 | - | - | - | 0.36% | 2.86% | -0.09% | 11.74% | 17.67% | 20.95% | 4.59% | 8.90% | 3.18% |
Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial | ||||||||||||
Subscribe to unlock 17+ years of financial data and 50+ calculated metrics
Subscribe to unlock 17+ years of data and 50+ calculated metrics
Performance and Valuation Metrics
Metrics | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | Subscriber-only column | Subscriber-only column | Subscriber-only column | Subscriber-only column | Data beyond 3 years is for subscribers only. Unlock 17+ years of financial data Start 7-day free trial |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liquidity Ratios | |||||||||||||||||
| Current Ratio | 0.61 | 0.66 | 0.66 | 0.54 | 0.57 | 0.70 | 0.80 | 0.64 | 0.84 | 0.70 | 0.70 | 0.75 | |||||
| Quick Ratio | 0.55 | 0.62 | 0.62 | 0.49 | 0.52 | 0.66 | 0.75 | 0.60 | 0.79 | 0.67 | 0.65 | 0.71 | |||||
| Working Capital | -1.78B | -1.51B | -1.58B | -2.12B | -2.07B | -1.43B | -918.00M | -1.54B | -591.00M | -1.11B | -1.08B | -855.00M | |||||
Leverage & Debt | |||||||||||||||||
| Debt to Equity | -3.79 | -4.11 | -4.37 | -4.46 | -4.68 | -5.45 | -5.80 | -6.07 | -6.66 | -7.56 | -9.62 | -11.68 | |||||
| Interest Coverage TTM | 2.26 | 2.17 | 4.22 | 4.09 | 4.07 | 4.17 | 4.26 | 4.54 | 4.72 | 4.80 | 5.06 | 5.08 | |||||
| Debt Ratio | 1.36 | 1.32 | 1.29 | 1.29 | 1.27 | 1.22 | 1.21 | 1.20 | 1.18 | 1.15 | 1.12 | 1.09 | |||||
Efficiency & Turnover | |||||||||||||||||
| Asset Turnover TTM | 0.76 | 0.72 | 0.70 | 0.73 | 0.71 | 0.70 | 0.69 | 0.70 | 0.68 | 0.66 | 0.66 | 0.64 | |||||
| Days Sales Outstanding TTM | 48.43 | 49.62 | 50.53 | 51.72 | 49.15 | 50.14 | 49.66 | 50.33 | 47.99 | 50.18 | 48.46 | 50.29 | |||||
| Receivables Turnover TTM | 7.54 | 7.36 | 7.22 | 7.06 | 7.43 | 7.28 | 7.35 | 7.25 | 7.61 | 7.27 | 7.53 | 7.26 | |||||
Per Share Metrics | |||||||||||||||||
| Diluted EPS TTM | 6.66 | 6.14 | 7.03 | 6.66 | 6.46 | 6.14 | 4.75 | 4.82 | 4.73 | 4.36 | 5.08 | 4.89 | |||||
| Free Cash Flow Per Share TTM | 9.62 | 8.59 | 10.21 | 9.49 | 8.42 | 7.73 | 7.34 | 7.27 | 7.30 | 6.85 | 7.05 | 6.99 | |||||
| Dividend Per Share TTM | 0.62 | 0.61 | 0.62 | 0.62 | 0.62 | 0.60 | 0.61 | 0.61 | 0.62 | 0.60 | 0.62 | 0.62 | |||||
Margin Metrics | |||||||||||||||||
| Gross Profit Margin TTM | - | - | - | - | - | 105.09% | 104.87% | 104.71% | 104.56% | 104.53% | 104.57% | 104.64% | |||||
| Operating Profit Margin TTM | 23.08% | 22.37% | 21.99% | 21.13% | 21.01% | 21.21% | 20.74% | 21.39% | 21.49% | 21.74% | 23.13% | 23.54% | |||||
| Net Profit Margin TTM | 12.59% | 12.14% | 14.21% | 13.86% | 13.90% | 13.74% | 10.75% | 11.24% | 11.48% | 11.25% | 13.22% | 13.31% | |||||
Growth Metrics | |||||||||||||||||
| Net Revenue Growth (1Y) | 8.72% | 7.74% | 6.68% | 6.26% | 7.43% | 9.17% | 9.24% | 10.66% | 12.52% | 16.66% | 23.33% | 29.41% | |||||
| Net Income Growth (1Y) | -1.53% | -4.82% | 41.03% | 30.95% | 30.07% | 33.36% | -11.19% | -6.54% | -3.75% | -8.43% | 24.16% | 34.44% | |||||
| EPS Growth (1Y) | 3.20% | 0.02% | 48.26% | 37.58% | 36.58% | 40.89% | -6.14% | -0.91% | 1.60% | -3.89% | 30.37% | 41.57% | |||||
Valuation Metrics | |||||||||||||||||
| P/E TTM | 45.02 | 46.36 | 36.36 | 39.59 | 34.69 | 39.80 | 47.79 | 44.52 | 44.30 | 41.20 | 29.13 | 29.33 | |||||
| P/B TTM | -11.84 | -12.57 | -12.29 | -13.72 | -12.51 | -16.49 | -16.28 | -17.45 | -18.98 | -20.21 | -22.00 | -26.64 | |||||
| P/S TTM | 5.67 | 5.63 | 5.17 | 5.49 | 4.82 | 5.47 | 5.14 | 5.01 | 5.09 | 4.63 | 3.85 | 3.90 | |||||
| Market Cap | 69.60B | 67.73B | 60.62B | 62.99B | 54.47B | 61.10B | 56.49B | 54.09B | 53.47B | 47.42B | 38.78B | 38.12B | |||||
| Enterprise Value | 81.34B | 79.12B | 71.13B | 73.49B | 64.81B | 70.87B | 66.00B | 63.46B | 62.23B | 55.74B | 46.72B | 45.97B | |||||
Calculated Values | |||||||||||||||||
| Free Cash Flow TTM | 2.20B | 2.03B | 2.39B | 2.25B | 2.02B | 1.92B | 1.81B | 1.81B | 1.84B | 1.80B | 1.83B | 1.85B | |||||
| Net Debt | 11.74B | 11.39B | 10.51B | 10.50B | 10.35B | 9.78B | 9.51B | 9.37B | 8.75B | 8.32B | 7.94B | 7.85B | |||||
Per-Share and Margin | |||||||||||||||||
| EPS TTM | |||||||||||||||||
| Adjusted EPS TTM | |||||||||||||||||
| Cash Flow Per Share TTM | |||||||||||||||||
| Pretax Margin TTM | |||||||||||||||||
| Stock Comp to Revenue TTM | |||||||||||||||||
Turnover Ratios and Averages | |||||||||||||||||
| Average Assets | |||||||||||||||||
| Average Equity | |||||||||||||||||
| Average Inventory | |||||||||||||||||
| Average Receivables | |||||||||||||||||
| Average Accounts Payables | |||||||||||||||||
| Inventory Turnover TTM | |||||||||||||||||
| Payables Turnover TTM | |||||||||||||||||
| Days Inventory Outstanding TTM | |||||||||||||||||
| Days Payables Outstanding TTM | |||||||||||||||||
| Cash Conversion Cycle TTM | |||||||||||||||||
| Working Capital to Revenue | |||||||||||||||||
| Deferred Revenue to Revenue | |||||||||||||||||
Growth Rates | |||||||||||||||||
| Total Assets Growth (1Y) | |||||||||||||||||
| Total Assets Growth (3Y) | |||||||||||||||||
| Total Assets Growth (5Y) | |||||||||||||||||
| Dividends Paid Growth (1Y) | |||||||||||||||||
| Dividends Paid Growth (3Y) | |||||||||||||||||
| Dividends Paid Growth (5Y) | |||||||||||||||||
| EPS Growth (3Y) | |||||||||||||||||
| EPS Growth (5Y) | |||||||||||||||||
| Net Income Growth (3Y) | |||||||||||||||||
| Net Income Growth (5Y) | |||||||||||||||||
| Net Profit Margin Growth (1Y) | |||||||||||||||||
| Net Profit Margin Growth (3Y) | |||||||||||||||||
| Net Profit Margin Growth (5Y) | |||||||||||||||||
| Net Revenue Growth (3Y) | |||||||||||||||||
| Net Revenue Growth (5Y) | |||||||||||||||||
| Deferred Revenue Growth (1Y) | |||||||||||||||||
| Retained Earnings Growth (1Y) | |||||||||||||||||
Credit, Liquidity, Returns, Payout | |||||||||||||||||
| Cash Ratio | |||||||||||||||||
| Net Working Capital | |||||||||||||||||
| Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to EBITDA TTM | |||||||||||||||||
| Net Debt to Equity | |||||||||||||||||
| Altman A | |||||||||||||||||
| Altman B | |||||||||||||||||
| Altman C | |||||||||||||||||
| Altman D | |||||||||||||||||
| Altman E | |||||||||||||||||
| Altman Z-Score | |||||||||||||||||
| ROA TTM | |||||||||||||||||
| ROE TTM | |||||||||||||||||
| NOPAT TTM | |||||||||||||||||
| ROIC TTM | |||||||||||||||||
| Effective Tax Rate TTM | |||||||||||||||||
| Payout Ratio TTM | |||||||||||||||||
| Dilution Ratio | |||||||||||||||||
| Retained Earnings to Equity | |||||||||||||||||
| Treasury Stock to Equity | |||||||||||||||||
| Treasury Stock Change (1Y) | |||||||||||||||||
| Accrued to Current Liabilities | |||||||||||||||||
Valuation Ratios | |||||||||||||||||
| P/CF TTM | |||||||||||||||||
| Dividend Yield TTM | |||||||||||||||||
| Free Cash Flow Yield TTM | |||||||||||||||||
| EV EBITDA TTM | |||||||||||||||||
| EV EBIT TTM | |||||||||||||||||
| Stock Compensation TTM | |||||||||||||||||
| Adjusted Net Income TTM | |||||||||||||||||
| Billings TTM | |||||||||||||||||
| Total Debt | |||||||||||||||||
| Invested Capital | |||||||||||||||||
Subscribe to unlock 17+ years of financial data
Subscribe to unlock 17+ years of data
Insider Transactions
2026-02-17Sale
Owner: Nassetta, Christopher J
Title: See Remarks
Shares: 114,289
Price/Share: $317.82
Value: $36,323,329.98
Shares Owned: 36,445
Relationship: Director,Officer
Ownership: Direct
2025-08-21Sale
Owner: Silcock, Christopher W
Title: See Remarks
Shares: 11,905
Price/Share: $269.40
Value: $3,207,207.00
Shares Owned: 79,451
Relationship: Officer
Ownership: Direct
2025-02-07Sale
Owner: Silcock, Christopher W
Title: See Remarks
Shares: 2,914
Price/Share: $269.54
Value: $785,439.56
Shares Owned: 70,453
Relationship: Officer
Ownership: Direct
2025-02-07Sale
Owner: Nassetta, Christopher J
Title: See Remarks
Shares: 40,653
Price/Share: $268.83
Value: $10,928,745.99
Shares Owned: 77,383
Relationship: Director,Officer
Ownership: Direct
2024-12-16Sale
Owner: Duffy, Michael W
Title: See Remarks
Shares: 23,366
Price/Share: $251.66
Value: $5,880,287.56
Shares Owned: 22,833
Relationship: Officer
Ownership: Direct
Subscribe to unlock 17+ years of financial data
Subscribe to unlock 17+ years of data
Institutional Ownership
No data available for chart
2026-03-31
84.40%
Inst. Shares: 193,273,644
Shares Outstanding: 229,000,000
2025-12-31
90.01%
Inst. Shares: 212,425,251
Shares Outstanding: 236,000,000
2025-09-30
91.57%
Inst. Shares: 214,283,524
Shares Outstanding: 234,000,000
2025-06-30
93.53%
Inst. Shares: 221,666,419
Shares Outstanding: 237,000,000
2025-03-31
89.96%
Inst. Shares: 215,915,239
Shares Outstanding: 240,000,000
Hilton Worldwide Holdings Inc. (HLT) — SEC Financial Statements & Analysis
Hilton Worldwide Holdings Inc. (HLT) is a hotels & motels company, incorporated in DE. Hilton Worldwide Holdings Inc. trades on HLT: NYSE as: HLT. Based on its latest SEC filing (Form 10-Q, period ending 2026-03-31), Hilton Worldwide Holdings Inc. reported a 8.72% year-over-year revenue growth, a Gross Profit Margin of 105.09% (TTM), a Debt-to-Equity ratio of -3.79x, a Price-to-Sales (P/S) ratio of 5.67x (TTM), a Price-to-Book (P/B) ratio of -11.84 (TTM), at a market cap of $69.60B. Figures below are sourced from SEC EDGAR, as-filed.
- Net Revenue TTM Growth 1Y
- 8.72%
- Gross Profit Margin TTM
- 105.09%
- Debt To Equity
- -3.79x
- P/S TTM
- 5.67x
- P/B TTM
- -11.84
- Market Cap
- $69.60B
Data as of 2026-03-31 · Source: SEC EDGAR
Frequently Asked Questions
What industry is Hilton Worldwide Holdings Inc. in?
Hilton Worldwide Holdings Inc. (HLT) operates in the Hotels & Motels industry.
What is HLT's market cap?
Hilton Worldwide Holdings Inc. (HLT) has a market capitalization of $69.60B as of 2026-03-31.
What is HLT's P/E ratio?
Hilton Worldwide Holdings Inc. (HLT)'s trailing twelve month P/E ratio is 45.02x as of 2026-03-31.
What exchange does HLT trade on?
Hilton Worldwide Holdings Inc. (HLT) trades on the HLT: NYSE.
Where is Hilton Worldwide Holdings Inc. incorporated?
Hilton Worldwide Holdings Inc. is incorporated in DE.