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Hotel recovery slow but steady, says Hilton
Sunday, 28 Jan, 2004
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According to Reuters, Hilton Hotels Corporation said it had turned the corner after three slow years but that business groups are still reluctant to confirm meeting plans. That makes for a “comparatively challenging” first quarter. “We believe the hotel business has finally turned the corner and that 2004 should provide more opportunities than challenges,” said Hilton Chief Financial Officer Matthew Hart. Reuters quoted investors as “concerned with the pace of the recovery, which they have been expecting for some time.” Hilton, however, reported a 68% jump in quarterly profits. The Beverly Hills-based hotel chain also operates 2,000 Doubletree, Hampton Inn and Embassy Suites.
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