- Hilton Worldwide (HLT -0.8%) reports preliminary Q1 results.
- The hotel operator says RevPAR was up 1% in January, fell 4% in February and is estimated to have fallen to 56% to 58% in March.
- Hilton says occupancy rates are currently ~17% for the Americas region and ~13% for the EMEA region. China is on the mend, with an occupancy rate up to 22% from a low of 9%.
- "We cannot presently estimate the financial impact of this unprecedented situation, which is highly dependent on the severity and duration of the pandemic, but we expect it will continue to have a significant adverse impact on our results of operations."
- SEC Form 8-K