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Hilton’s Nassetta Expects “Dramatic Impact” from Pandemic on Q2 Results

Hilton Worldwide Holdings’ RevPAR decreased 22.6% in the first quarter and 57% for the month of March, while net income declined 88.6% to $18 million from $159 million a year ago. The McLean, VA-based lodging giant attributed the year-over-year drop in RevPAR to the impact of the COVID-19 pandemic.

However, CEO Christopher Nassetta said on an earnings call Thursday, “Overall, I do not think our first-quarter results provide clear insight into the current environment, given the timing of the pandemic, and we expect a much more dramatic impact on our second-quarter results.”

Om the near term, Nassetta said the sector would start to see recovery “as we get into Q3, Q4. But getting back to the sort of levels of occupancy—which for us were in the low- to mid-70s—of 2019, which were all-time highs, that’s going to take time. That’s going to take two or three years.”

Pictured: Hilton Dallas Lincoln Center.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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