Hilton Worldwide, following Hyatt Hotels Corp. and some lodging real estate investment trusts, on Tuesday pulled its first-quarter and full-year 2020 guidance due to the evolving impact of the novel coronavirus on the global economy.
"With the coronavirus now spreading beyond China and the Asia-Pacific region, and the related increase in travel restrictions and cancellations around the world, we believe that the potential negative impact will be greater than our previous estimate and have decided to withdraw our previously announced guidance," said Hilton president and CEO Christopher Nassetta in a statement. "We will provide an update during our first-quarter earnings call, based on the information we have available at the time."
In February, the company provided outlook estimates that did not take Covid-19 into consideration. At that time, it expected flat year-over-year revenue per available growth for the first quarter on a currency-neutral basis, with full-year 2020 coming in at flat to 1 percent growth.
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