Hilton’s Q1 figures disappoint as pandemic impact is still being felt

May 05, 2021
Hilton’s Q1 figures disappoint as pandemic impact is still being felt

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

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