Hilton Worldwide Holdings Inc. today reported its fourth quarter and full year 2020 results.
According to the statement of the group, net loss was $225 million for the fourth quarter and $720 million for the full year.
System-wide comparable RevPAR decreased 59.2 percent and 56.7 percent on a currency neutral basis for the fourth quarter and full year, respectively, from the same periods in 2019.
Approved 18,700 new rooms for development during the fourth quarter, bringing Hilton’s development pipeline to 397,000 rooms as of December 31, 2020.
Hilton opened 22,900 rooms in the fourth quarter, reaching the one million room milestone and contributing to 47,400 net additional rooms in Hilton’s system for the full year, which represented approximately 5.1 percent net unit growth from December 31, 2019
Christopher J. Nassetta, President & Chief Executive Officer of Hilton, said:
“Our fourth quarter results were largely in line with our expectations as rising COVID-19 cases and tightening travel restrictions disrupted the positive momentum we saw throughout the summer and fall. Yet even with a challenging environment, we celebrated our one million room milestone during the quarter and achieved net unit growth of more than five percent for the year. We continued this momentum into 2021 with the opening of our 900th Hilton Garden Inn and the conversion of Oceana Santa Monica, which marked the U.S. debut of LXR. We expect our industry-leading brands to continue driving new development and conversion opportunities, enabling us to further grow our network and capture a disproportionate share of demand as travel resumes.”
Hilton is a leading global hospitality company with a portfolio of 18 world-class brands comprising more than 6,400 properties and more than one million rooms in 119 countries and territories.
