Hilton CEO Christopher Nassetta said he was optimistic that tax
reform would help the lodging industry and the economy.
Nassetta said during Hilton's third-quarter earnings call that the tax bill, which House Republicans are
slated to announce this week, would encourage larger companies to repatriate
money that's been invested overseas and free more cash for hirings and business
investments.
"I think there's a reasonable probability that
something gets done, I think net-net it's good for the industry," Nassetta
said. "The whole point of this is to stimulate economic growth and get
more hands, more cash in the hands of businesses to make more investments and
hire more people, and I think we would be a net beneficiary of it."
The tax-reform plan has been touted by Republicans as well
as the White House as a way to provide a boost to the U.S. economy, while many
Democrats have said such a bill would likely benefit larger corporations and
wealthier individuals more than the rest of the economy.
If a reform were passed, the resulting boost in business
spending would would likely boost business bookings in the lodging industry.
While Hilton's leisure business continues to grow at a steady rate, Hilton "continues
to see steady business transient and group growth at the low-to-mid point of
our guidance range," Nassetta said.