Hilton Cuts 2024 Room Revenue Growth Forecast on Slowing Consumer Spending

Reuters | October 23, 2024

By Doyinsola Oladipo and Aishwarya Jain (Reuters) -Hilton Worldwide lowered its annual room revenue growth and net income forecasts as steady demand in Europe and business travel were not enough to counter a fall in demand in China and disruptions to its U.S. business during the third quarter. Shares of Hilton, which owns hotel brands such as Waldorf Astoria and DoubleTree, were down 2% on Wednesday. Rival Marriott International also fell 3%. Global travel demand has been facing challenges as American and Chinese consumers remain wary of macroeconomic trends. Ongoing labor disputes, the upcoming election and weather disruptions in the U....