Hilton CEO Tells Trump Most Hotels in Major Cities Will Close

(Bloomberg) -- Hilton Worldwide Holdings Inc. plans to close most of its hotels in major U.S. cities, Chief Executive Officer Christopher Nassetta said at a meeting with President Trump at the White House on Tuesday.

Nassetta, whose company has already begun to temporarily shutter namesake properties in New York and Washington, said occupancy rates could fall to 10% globally as world governments seek to halt the spread of the novel coronavirus.

The outbreak has hit the industry in a “devastating way,” Nassetta said, adding that occupancy rates in major U.S. cities were “running in the single digits.”

“Hilton’s been around 100 years -- we’ve never closed a hotel that wasn’t going to be demolished or rebuilding,” he said. “The bulk of our hotels in the major cities are closing as we speak.”

The remarks came as hospitality executives traveled to the White House to seek support for an industry facing a global shutdown in the months to come.

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