Hilton preliminary Q1 results show March RevPAR down at least 56%

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Hilton preliminary Q1 results show March RevPAR down at least 56%
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Hilton Worldwide currently estimates its systemwide first-quarter comparable revenue per available room (RevPAR) to have declined between 22% and 24% year over year, according to a Thursday company filing with the U.S. Security and Exchange Commission. 

Hilton estimated March systemwide RevPAR to be down between 56% to 58%. 

The results are preliminary and unaudited and may change by the time the company holds its first-quarter earnings call, the date of which has not yet been announced. 

Regionally, Hilton expects first-quarter Asia/Pacific RevPAR to be down 43% to 45% year over year, and down 74% to 76% in March, despite some early signs of recovery in the region, particularly in China. Hilton's occupancy in China currently stands at approximately 22%, up from 9% in early February, and with more than 130 of the nearly 150 hotels in China that had been closed now reopened. 

Preliminary first-quarter RevPAR results for the Americas as well as Europe, the Middle East and Africa are down 20% to 22% for both regions. For March, EMEA is anticipated to show slightly worse results than the Americas, with RevPAR down 62% to 64% compared with a decline in the Americas of 54% to 56%.

As of April 14, Hilton has temporarily closed nearly 1,000 hotels, or approximately 16% of its global inventory. 

Regionally, that amounts to 12% of hotels in the Americas, 60% of the hotels in Europe, the Middle East and Africa, and 15% of Asia/Pacific hotels. 

The company noted in the filing that it was "not able to estimate the date that these suspensions of hotel operations will be lifted."

Source: Business Travel News

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