(TAN): Hilton has reported its third quarter 2020 results. The results reflect the material impact that the novel coronavirus pandemic has had on Hilton’s business.
Net loss for the company was USD 81 million for the third quarter. Diluted EPS was USD 0.28 for the third quarter, and diluted EPS, adjusted for special items, was USD 0.06. Adjusted EBITDA was USD 224 million for the third quarter.
During the third quarter Hilton approved 17,400 new rooms for development, bringing the company’s development pipeline to 408,000 rooms as of September 30, representing 8% growth from the same date of 2019.
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The company Opened 17,100 rooms in the third quarter, contributing to 14,800 net additional rooms in Hilton’s system, representing 4.7% net unit growth from September 30, 2019, with full year net unit growth expected to be between 4.5% and 5%.
As of November 2, 97% of Hilton’s system-wide hotels were open.
