Hilton started the year projecting a net income of $1 to $1.07 billion by the end of it—but after a very successful second quarter, the company changed its end-of-the-year net income projection to $1.15 to $1.22 billion.

The reason for this sudden change has nearly all to do with the way travel has taken a major surge over the summer. Now that COVID-19 has simmered down a tad, people are coming out of their homes and taking much-needed vacations.

As a result of these vacations, people are booking more stays in Hilton-owned hotels, from Hilton itself to the likes of Waldorf Astoria Hotels & Resorts.

So while finance analysts have projected a recession, credit card data has indicated that travel culture looks to stay strong in the near future. Hilton is paying close attention to this data and believes that it’ll end the year on a much higher note than initially expected.

Hilton stock shares have also received a generous bump. Thanks to their summer success, their numbers have risen up to 4.9% at $126.1.

The post Hilton Raises 2022 Estimates in Light of Travel Bump appeared first on theprimarymarket.com.

Hilton started the year projecting a net income of $1 to $1.07 billion by the end of it—but after a very successful second quarter, the company changed its end-of-the-year net income projection to $1.15 to $1.22 billion.

The reason for this sudden change has nearly all to do with the way travel has taken a major surge over the summer. Now that COVID-19 has simmered down a tad, people are coming out of their homes and taking much-needed vacations.

As a result of these vacations, people are booking more stays in Hilton-owned hotels, from Hilton itself to the likes of Waldorf Astoria Hotels & Resorts.

So while finance analysts have projected a recession, credit card data has indicated that travel culture looks to stay strong in the near future. Hilton is paying close attention to this data and believes that it’ll end the year on a much higher note than initially expected.

Hilton stock shares have also received a generous bump. Thanks to their summer success, their numbers have risen up to 4.9% at $126.1.

The post Hilton Raises 2022 Estimates in Light of Travel Bump appeared first on theprimarymarket.com.