The novel coronavirus (COVID-19) has created unprecedented challenges for our industry, our hotels and our Team Members. Hilton Worldwide Holdings Inc. (NYSE: HLT) is taking decisive action to protect the core of its business and support affected Team Members until this crisis passes and travel resumes.
With travel at a virtual standstill, operations have been suspended across many managed and franchised hotels, and those hotels that remain open have reduced services for guests because of decreased occupancy levels. At the corporate level, Hilton is taking the following actions to significantly reduce expenses and preserve liquidity:
