Hilton posts quarterly profit on rising leisure travel demand

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Rising vaccination rates, reopening economies and pent-up travel demand are expected to help hotel operators like Hilton and Marriott International (NASDAQ:MAR) Inc reach occupancy rates similar to pre-pandemic levels in the coming quarters.

“While the pace of recovery varies by region, we expect continued strength in leisure demand and further upticks in business travel to drive continued resurgence in the back half of the year”, Chief Executive Officer Christopher Nassetta said.

The company reported a 233.8% rise in comparable RevPAR – a key performance measure for the hotel industry – for the quarter.

The company reported net income attributable to Hilton stockholders of $130 million, or 46 cents per share, in the second quarter ended June 30, compared to a net loss of $430 million, or $1.55 per share, a year earlier.

Revenue rose 135.6% to $1.33 billion.

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