Pershing Square Activist Presentation Deck
HLT Share Price Performance Since Inception
HLT's share price including dividends increased 40% in 2021 and has
decreased 2% year-to-date in 2022(¹)
HLT Share Price Performance From 10/8/2018 to 2/8/2022:
Share price
$170
$150
$130
$110
$90
$70
будин
Anz
$50
Oct-2018
Mar-2019
3/10/20: HLT withdraws
2020 outlook given macro
uncertainty; draws down
$1.75bn credit line
Aug-2019
7/29/21: HLT reports a step-function improvement
in profitability relative to prior recent trending;
fully repays previously drawn credit line
причи
Jan-2020
12/1/21 - 12/31/21: Robust holiday and
leisure demand causes December U.S.
RevPAR to increase 4% vs. 2019 levels
Jun-2020
mz
Nov-2020
ند و سور
3/1/21-9/30/21: Industry
pricing data ("ADR") exhibits
sequential improvement -
begins to eclipse 2019 levels
Apr-2021 Sep-2021
Note: The performance of HLT's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds.
*Average cost at announcement date. Please see the additional disclaimers and notes to performance results at the end of the presentation.
(1) As of 2/8/2022.
$153
$73*
Feb-2022
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