Hilton raises earnings forecast on Trump boost
Washington D.C. – 3 May 2017 –
Hilton Worldwide reported a better-than-expected first-quarter profit and raised its earnings forecast for the year, helped by a boost in business travel following the US presidential election.
Hilton, like its hotel industry peers, is expected to benefit from an uptick in corporate demand as companies spend more based on improved business sentiment following Donald Trump’s election as president in November, Reuters reported.
US business transient travel had been “quite anemic to flattish” before the election, but has since improved and stayed consistent, Hilton chief executive Christopher Nassetta said.
Revenue jumped 25.2 percent to US$2.16 billion.