What happened
The stock of Hilton Worldwide Holdings (NYSE:HLT) outperformed a surging market in November. Shareholders gained 18% compared to the 11% increase in the S&P 500, according to data provided by S&P Global Market Intelligence.
The rally nearly put the stock back into positive territory for the year after having plunged 50% by early April.
Image source: Getty Images.
So what
Hilton's shares benefited from a broader boost in sentiment as investors saw an approaching end to the COVID-19 pandemic that has devastated the travel and vacation industries in 2020. But the company also added to that positive feeling by announcing encouraging third-quarter results last month.
In early November, Hilton showed improving trends in occupancy and daily average revenue, even though these figures remained far below normal levels. Most of its properties are now open, and the global portfolio has notched month-by-month improvements since the business hit a low in April.
Now what
Executives have warned investors to brace for a tough rebound period ahead, with a full recovery likely requiring several more quarters of gains. But Wall Street is still encouraged by the potential for a quick return to sales growth for Hilton's portfolio as early as 2021.
"hilton" - Google News
December 08, 2020 at 09:01PM
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Why Hilton Worldwide Holdings Stock Gained 18% in November - Motley Fool
"hilton" - Google News
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