Hilton sees 56 per cent decline in revenue per room due to COVID-19 crisis
As of April 14, around 1,000 Hilton Hotels have been shut, which accounts for 16 per cent of the chain’s total global properties
The coronavirus pandemic has adversely impacted the hospitality industry, leading to single digit occupancy and temporary closure of hotels. Even, hospitality major, Hilton is reeling under the impact of the economic crisis posed by coronavirus. As of April 14, around 1,000 Hilton Hotels have been shut, which accounts to 16 per cent of the chain’s total global properties.
Besides, as per the company's filing with the U.S. Securities and Exchange Commission, Hilton Hotels' preliminary system wide first-quarter estimate of revenue per available room showed a 56 per cent to 58 per cent decline for March.
In terms of revenue per room performance, the company’s hotels in Europe, the Middle East and Africa is down by 62 per cent to 64 per cent for March, which is slightly worse than Hilton properties in North and South America, which are down 54 per cent to 56 per cent. However, these numbers are all better than the hotel's revenue per room in the Asia/Pacific region, which declined 74 per cent to 76 per cent in March.