Booking Holdings announced that it is withdrawing its previously-announced first-quarter 2020 financial guidance as a result of the worsening impact of the COVID-19 outbreak on travel demand.
Glenn D. Fogel, President and Chief Executive Officer of Booking Holdings, said:
"As the situation has worsened and the negative impact on travel demand has increased since we provided guidance, in particular, more broadly across Europe and in North America, we have decided to withdraw that guidance."
Mr. Fogel said the company plans to provide more information during its first-quarter earnings call based on the information available at that time.
"We believe the company has a strong operating model and solid balance sheet, which will enable us to weather this disruption," he said.