Hilton Reopens Businesses as COVID-19 restrictions Begin to Ease
In 2021, Hilton Worldwide Holdings Inc. (Hilton) generated $5.8 billion in revenue, increasing 34.3% from the previous year, as the economy recovered from the effects of the COVID-19 (coronavirus) pandemic. The pandemic significantly affected operations in 2020, as many locations were suspended indefinitely due to health and safety regulations. However, an increase in tourism and travel, alongside the distribution of the vaccine easing regulations, rebounded demand for Hilton’s services. Furthermore, the company stated that in 2021, only 360 hotels were suspended, compared with 1,260 in 2020.
COVID|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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