March 10, 2020 / 10:04 PM / 21 days ago

Hilton pulls 2020 outlook due to coronavirus outbreak

FILE PHOTO: The logo of Hilton hotel is seen in Batumi, Georgia, May 2, 2016. REUTERS/David Mdzinarishvili/File Photo

(Reuters) - U.S. hotel operator Hilton Worldwide Holdings Inc (HLT.N) said on Tuesday it was withdrawing its 2020 financial outlook, citing a demand slump as a result of the coronavirus outbreak.

“(Due to) increase in travel restrictions and cancellations around the world, we believe that the potential negative impact will be greater than our previous estimate,” Chief Executive Officer Christopher Nassetta said in a statement.

Smaller rival Hyatt Hotels Corp (H.N) too had earlier this month withdrawn its 2020 earnings outlook.

Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur

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