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Hilton's CEO says he sees a C-shaped economy emerging in the US

Business Insider·Aditi Bharade·about 1 month ago
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Hilton's CEO says he sees the K-shaped economy converging. Justin Sullivan/Getty Images Hilton's CEO says he sees the K-shaped economy converging into a C-shape. He said macro trends are boosting spending from lower-income consumers. However, other company executives have said that the economy is more divided than ever. Hilton's CEO said America's K-shaped economy is converging as lower-income consumers are spending more. During a Tuesday earnings call, CEO Christopher Nassetta said that he expects "improving performance in the lower and mid-chain scales" in the rest of the year. He said sales growth would continue to "move downstream from luxury and upper upscale toward a more balanced convergence demand shape, or what I have been calling a C-shaped economy." The term is a play on the K-shaped economy . Analysts and company executives have warned about the economy going K-shaped in recent months — a difference in spending behavior between high- and low-earners.…

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