Hilton Reports 80% Drop in Revenue in Q2

By Paul Riegler on 6 August 2020
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Front desk at the New York Hilton-Midtown

Hilton Worldwide announced financial results for the second quarter of 2020.

The company reported a net loss of $432 million in Q2 and said that systemwide comparable RevPARor revenue per available room, fell by 81% compared to the same period in 2019.  Revenue fell 77% to $564 million year-over-year.

“Our second-quarter results reflect the challenges that our business has experienced as a result of the pandemic,” said the hotelier’s CEO, Christopher Nassetta,. “However, as restrictions are lifting and properties around the world are reopening, we are seeing improved occupancy. While we have a long journey in front of us, we are on the road to recovery and look forward to the opportunities ahead.”

The company said that all major regions have experienced month over month increases in occupancy and RevPARsince bottoming out in April. The chain’s recoveries in the United States and in Asia Pacific have reported occupancy levels up approximately 20 percentage points and 15 percentage points, respectively, from April to June.

(Photo: Accura Media Group)

Accura News

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