Covid-19 pushes Hilton into larger loss than expect
Extended disruptions to travel have led to tighter corporate travel budgets, an increasing pace of group cancellations and a dearth of new bookings
06 August 2020 - 16:47
Hilton Worldwide Holdings posted a bigger-than-expected quarterly loss on Thursday, as the coronavirus pandemic hammered bookings and average room revenue throughout its largely reopened hotel networks.
Shares of the company fell 2.4% in pre-market trading after the company also reported an 81% plunge in RevPAR — a key performance measure for the hotel industry — for the second quarter...
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