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With more than 6,400 properties in 119 countries that include the Waldorf Astoria, DoubleTree, Embassy Suites, and over a dozen other brands, Hilton’s marketing team is undoubtedly working hard to coax vacationers and business travelers back to its properties. Hilton reported a net loss of $225 million for its 2020 fourth quarter, compared with net income of $176 million for the same period in 2019. For 2020 full-year, the hotel operator’s net loss totaled $720 million compared with a net gain of $886 million in 2019.
The company is banking on travel returning to some semblance of normalcy, having announced plans to build up its presence in Thailand by up to 2,000 over the next 24 months and expand its upscale DoubleTree by Hilton brand in Islamabad, Pakistan, in 2025. Hilton also announced the opening of Virgin Hotels Las Vegas, Curio Collection by Hilton. The property consists of more than 1,500 chambers and suites, an exclusive spa, 12 food and beverage outlets, daytime a
(Repeats story first published Friday with no changes to text)
NEW YORK, Feb 12 (Reuters) - Investors are watching next week’s earnings reports from hotels, cruise lines and other businesses that have been hard hit by COVID-19 for indications of which companies could be the first to bounce back when the pandemic recedes.
For nearly a year, money managers have largely looked past earnings in the travel and leisure sector, where coronavirus-fueled lockdowns and travel restrictions battered companies’ businesses and crushed their stock prices: shares of Marriott and Norwegian Cruise Lines, for example, are down 12% or more in the last year, compared to a nearly 17% gain for the S&P 500 through Friday afternoon.