What drove Hilton's gross profit growth in the first half of 2024?

Hilton's gross profit growth in the first half of 2024 was driven by a combination of factors:

1. **Revenue Growth**: The company's total revenue grew from $2.57 billion in Q1 2024 to $5.52 billion in Q2 2024. This increase in revenue is a direct result of the company's operational performance and market demand.
2. **Net Income Growth**: Hilton's net income also showed significant growth, with a year-over-year increase from $268 million in Q1 2024 to $690 million in Q2 2024. This indicates that the company was not only increasing its revenue but also managing its expenses effectively to boost profitability.
3. **Gross Profit Growth**: Despite a slight decline in gross profit margin (-2.73%), the gross profit still increased from $2.33 billion in Q1 2024 to $4.98 billion in Q2 2024. This suggests that Hilton was able to maintain and improve its gross profit despite the margin contraction.

In summary, Hilton's gross profit growth in the first half of 2024 was primarily driven by revenue growth and effective cost management, which led to a significant increase in net income and gross profit.