Hilton CEO Says Business Could Be Impacted For Up To A Year From Coronavirus



Hilton has closed about 150 hotels in China in response to the growing coronavirus crisis, taking 33,000 rooms out of commission, Hilton CEO Chris Nassetta said on Tuesday.

The hotel industry could end up having to deal with the impact of coronavirus for the next 12 months, Nassetta told investors during a call detailing the McLean, Virginia-based company’s 2019 earnings.

While the earnings report released on Tuesday does not reflect the impact of coronavirus, Nassetta said the company has made projections for the year ahead based on the industry’s experience with the SARS outbreak in 2003.

“What we looked at is sort of in a range of outcomes, 3 to 6 months of escalation and impact from the outbreak. And then these things don’t turn around typically overnight, another 3 to 6 months on recovery. So essentially, a 6- to 12-month period of time,” Nassetta said.

Continue reading at skift.com