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August 7, 2020

Hilton loses $432M as travel dwindles

MCLEAN, Va. (AP) — Hilton lost $432 million in the second quarter, and occupancy rates began to lift from dismal lows as hotels reopen and coronavirus restrictions were lifted around the world.

After hitting 13% in mid-April, global hotel occupancy is now running around 45%, Hilton President and CEO Christopher Nassetta said during a conference call Thursday with investors.

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