10 Best Summer Stocks to Buy Now
The COVID-19 pandemic caused the cancellation of summer vacation plans in 2020. Travel destinations worldwide had 1 billion fewer international visitors in 2020, which caused a direct impact on the booking, entertainment, airlines, cruises, and hotel stocks. The tourism and entertainment companies, including digital travel firm Expedia Group, Inc. (NASDAQ: EXPE), airline company Delta Air Lines, Inc. (NYSE: DAL), and Disneyland owner The Walt Disney Company (NYSE: DIS), experienced difficult times in 2020 and lost billions in revenues due to the coronavirus outbreak.
However, the mass rollouts of COVID-19 vaccines worldwide has investors hopeful for a strong recovery. According to a poll conducted by travel insurance company Allianz Partners USA, 67% of participants believe that getting the COVID-19 vaccine will make them feel comfortable enough to travel again this year. The widespread roll-out of vaccines also boosted the demand for international
Hilton Worldwide (HLT.N) on Wednesday posted quarterly results below estimates as a rise in COVID-19 cases and tighter travel curbs in parts of Europe and Asia hurt bookings, sending shares of the U.S. hotel operator down more than 1% before the bell.
The hospitality firm had £1.76 billion of cash & equivalents as of 31st March.
Hilton Worldwide Holdings shares slid 1.5% on market open on Wednesday.
Hilton Worldwide Holdings Inc. (NYSE: HLT) reported its financial results for the fiscal first quarter on Wednesday that came in shy of the Wall Street estimates on weak demand due to the ongoing Coronavirus pandemic.
1. Financial performance
Hilton reported £77.63 million of loss in the first quarter that translates to 28.03 pence per share. In the same quarter last year, it had posted £12.94 million of net income, or 4.31 pence per share. Adjusted for special items, the hospitality company earned 1.44 pence per share. The McLean-based firm had reported £161.49 million of net loss in the prior quarter (Q4).
Good morning, and welcome to the Hilton First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Jill Slattery, Senior Vice President, Investor Relations and Corporate Development. You may begin.
Jill Slattery
Vice President and Head-Investor Relations
Thank you, Chad. Welcome to Hilton s First Quarter 2021 Earnings Call. Before we begin, we would like to remind you that our discussions this morning will include forward-looking statements. Actual results could differ materially from those indicated in the forward-looking statements and forward-looking statements made today speak only to our expectations as of today. We undertake no obligation to publicly update or revise these statements. For a discussion of some of the factors that could cause actual results to differ, please see the Risk Factors section of our most recently filed Form 10-K.