Stock Alert: Hilton Worldwide Tumbles As Coronavirus Grips Hospitality Industry

(RTTNews) - Shares of Hilton Worldwide Holdings Inc. (HLT) are sinking more than 17 percent in morning trade on Wednesday at $53.56, after touching a new 52-week low of $51.75 earlier.

The stock has traded in a range of $51.75 to $115.48 in the past 52 weeks.

According to reports, Hilton Worldwide Chief Executive Officer Christopher Nassetta told U.S. President Donald Trump at a meeting at the White House on Tuesday that the company plans to close most of its hotels in major U.S. cities as occupancy rates could fall amid the coronavirus or COVID-19 outbreak.

Hospitality executives are seeking support for the industry from the U.S. government and want to be included in plans for a federal relief package.