The forecast cut was mainly due to "continued softness in corporate transient demand," Deutsche Bank analysts wrote in a note on Wednesday. Corporate transient demand reflects individuals traveling for business purposes. Further growth in RevPAR would require pickup in corporate transient demand, Hilton noted in July. For the current quarter, the company forecast adjusted earnings of 20-23 cents per share. Excluding items, the company earned 23 cents per share, inline with the average analyst estimate, according to Thomson Reuters I/B/E/S.

Source: The Edge Markets October 26, 2016 14:03 UTC