Hilton reported financial results for the third quarter of 2020 today.
The revenue of Hilton for the months of July-August-September decreased to 933 Million Dollars 61% lower than 2019.
The Hilton chain opened 133 new hotels with 17,100 rooms in a 3-month period, and 97% of the worldwide hotels are open as of November 2.
Hilton posted a quarterly net loss of $ 81M with RevPar declining 59.9% in global scale.
Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said, “Our third quarter results show meaningful improvement over the second quarter. 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, with occupancy increasing more than 20 percentage points from the second quarter. While a full recovery will take time, we are well positioned to capture rising demand and execute on growth opportunities.”
Hilton’s average occupancy rate was 42.5% in the last quarter.
