Hilton Reports 61% Drop in Revenue for Third Quarter

By Paul Riegler on 4 November 2020
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Hilton Worldwide announced financial results for the third quarter of 2020.

The company reported a net loss of $81 million, compared to a profit of $290 million in the same period in 2019, on revenue of $933 million, which was down 61% from $2,395 in 2019.

Occupancy was up 20 percentage points over Q2, the company said, and 97% of Hilton hotels are now open, it added.

“The vast majority of our properties around the world are now open and have gradually begun to recover from the limitations that the Covid-19 pandemic has imposed on the travel industry,” said the company’s CEO, Christopher Nassetta.

The company said it is “well positioned” when travel returns, it noted that “a full recovery will take time.”

(Photo: Accura Media Group)

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