Friday, April 27, 2018
Christopher Nassetta, chief executive officer, Hilton Worldwide Holdings Inc. mentioned at a conference call on Thursday that companies have been spending more on corporate travel that translates into a greater demand for hotel rooms and also hotel restaurants and bars.
Hilton’s revenue from food and beverage sales rose by nearly 6% in the initial quarter from a year earlier. This gain surpassed growth in revenue per available room that increased by 3.9%.
Nassetta went on to state that business confidence has been steadily increasing and at reasonably high levels and so business tourists are spending more on their trips.
Hospitality industry analysts have anticipated stronger demand for business travel after a U.S. corporate tax cut was signed into law by the US president Donald Trump in December.
Nassetta said that his conversations with corporate customers have also revealed greater optimism owing to favorable regulatory environment under the Trump administration.
Other hotel owners and operators have been thinking whether a strong economy translates to more business spending.
Thursday, March 23, 2023
