Hilton Worldwide Holdings Inc reported a quarterly loss on Wednesday, compared to a year-ago profit, as the COVID-19 pandemic disrupted global travel.
The company’s comparable RevPAR – a key performance measure for the hotel industry – fell 59.9% for the quarter.
Hilton’s results come at a time when air travel remains challenged due to rising coronavirus cases in Europe and the United States.
The U.S. hotel operator posted system-wide occupancy of 42.5% in the third quarter, compared with 79.1% a year ago.
Net loss attributable to stockholders was $79 million, or 28 cents per share, in the quarter ended Sept. 30, compared with a net income of $288 million, or $1.00 per share, a year earlier.
Revenue fell to $933 million from $2.40 billion.
On an adjusted basis, Hilton earned $0.06 per share.
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