Hilton stock falls after surprise loss, as revenue and RevPAR fell more than forecast

Shares of Hilton Worldwide Holdings Inc. HLT, +1.31% dropped 2.3% in premarket trading Wednesday, after the hotel operator reported a surprise fourth-quarter loss and revenue that fell more than forecast, as the rise in COVID-19 cases and tightening travel restrictions disrupted the positive momentum seen in the summer and fall. The company swung to a net loss of $224 million, or 80 cents a share, from net income of $175 million, or 61 cents a share, in the year-ago period. Excluding nonrecurring items, the adjusted loss per share was 10 cents, compared with the FactSet consensus for earnings per share of 3 cents. Total revenue fell 62.4% to $890 million, below the FactSet consensus of $1.03 billion. Comparable revenue per available room (RevPAR) dropped 59.2% to $40.68 to miss expectations of $44.10, as occupancy and the average daily rate (ADR) both declined. The stock has gained 9.9% over the past three months through Tuesday, while the S&P 500.