One of the most known hotel chains in the world – Hilton – posted first quarter 2021 figures that came below consensus
Hilton
reported an EPS of $0.02, which missed the expectations by $0.08. Following
suit were the revenue figures, which came in short by $136 million at $874
million. Year over year, the number decreased by 54.5%. The figures were a
result of the restrictions imposed in parts of Europe and parts of Asia.
Moreover, Hilton suspended operations at 275 facilities, mainly in the US and
Europe, significantly lower than 730 reported during the same quarter last
year.
Despite the results, Christopher J. Nassetta, President and
CEO of Hilton, stated: "We are pleased with our first-quarter results.
While rising COVID-19 cases and tightened travel restrictions, particularly
across Europe and our Asia Pacific region, weighed on
demand in January and February, we saw meaningful improvement in March and
April. We expect this positive momentum to continue as vaccines are more widely
distributed and our customers feel safe travelling again. We continue to grow
our portfolio of hotels in exciting destinations throughout the world, giving
our guests more options than ever before to make a Hilton hotel a part of their
plans as travel resumes."
Before the opening bell, Hilton stock price traded more than
1% lower.
Sources: investing.com, seekingalpha.com
