Hilton Worldwide Holdings Inc expects demand for stays in China to be volatile in the near term due to rising COVID-19 infections, the hotel operator said on Thursday, but sees the key tourism market gradually recovering through the year.

Hilton missed its room growth expectations for 2022, pressured by the COVID environment in China, where restrictions were abruptly lifted after protests. Hilton, which gets a sizeable chunk of its revenue from outside the United States, reported net unit growth of 4.7% in 2022, below its earlier forecast of about 5%.

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