Hilton CEO: Worst Definitely Behind Us

The transcript discusses the significant impact of COVID-19 on the lodging industry, comparing it with the airline and cruise industries. It highlights the recovery trends, noting that while leisure demand has surged past 2019 levels, business and group segments are recovering more slowly. The speaker anticipates a return to peak demand levels by the second or third quarter of next year. The challenges of hotel operations during the pandemic, including closures and layoffs, are also discussed, emphasizing the rarity of hotel closures and the industry's adaptation to these unprecedented circumstances.

Which industries were most affected by COVID-19 according to the transcript?

• Construction, Agriculture, and Energy

• Lodging, Airlines, and Cruises

• Retail, Technology, and Healthcare

• Automotive, Finance, and Education

What is the current trend in the leisure segment of the lodging industry?

• Both demand and rates are declining

• Demand and rates are higher than 2019 levels

• Demand and rates are lower than 2019 levels

• Demand is stable, but rates are decreasing

How is the recovery of the business and events segments described?

• They are recovering rapidly and have surpassed 2019 levels

• They have not shown any signs of recovery

• They are recovering slowly but gaining momentum

• They are declining further

What was a significant challenge for the lodging industry during COVID-19?

• Opening new hotels

• Closing hotels

• Reducing room rates

• Increasing occupancy rates

How often does the lodging industry typically close hotels?

• Only during economic downturns

• Rarely, usually when repurposing or rebuilding

• Frequently, as part of regular operations

• Every few years for renovations