HILTON WORLDWIDE HOLDINGS and Hyatt Hotels Corp. have announced dates for their second quarter earnings calls. Both companies have had to lay off more than 1,000 employees each as a result of loss of business to the COVID-19 pandemic.
Hilton will officially report its results before the stock market opens on Aug. 6, followed by a conference call at 10 a.m. ET with Christopher Nassetta, Hilton president and CEO. Kevin Jacobs, Hilton’s executive vice president and chief financial officer, also will join the call to discuss the company’s performance and lead a question-and-answer session.
Hyatt will release its second quarter results on Aug. 3 after market close and hold its conference call on Aug. 4 at 10:30 a.m. CT. The company did not release who will be on the conference call, including Mark Hoplamazian, president and CEO.
Both conference calls will be available online and by phone.
In June, Hilton announced it would cut around 2,100 corporate positions to make up losses suffered from the pandemic. In announcing the cuts, Nassatta said he was “devastated.”
“To protect our business, we have been forced to take actions that directly impact our team members,” he said. “Our company’s spirit has always been grounded in a culture that supports our team members and delivers hospitality for our guests. We will keep that spirit alive, and when the world begins to travel again, we will be ready to welcome them back.”
Hyatt announced in May that it would lay off 1,300 people globally, according to CNBC.com. The company also cut pay for senior management, board members and all employees as part of a restructuring.
“Due to the historic drop in travel demand and the expected slow pace of recovery, Hyatt has made the extremely difficult decision to implement layoffs and restructure roles across its global corporate functions, beginning June 1, 2020,” Hyatt said in a statement at the time.
Choice Hotels International, which also was forced to lay off employees during the pandemic, announced last week that its second quarter earnings report would be Aug. 6.