Hyatt Hotels Corp. (H) on Monday said it is withdrawing its 2020 earnings outlook as the spread of coronavirus impacts travel. "This is an evolving situation, and our ability to assess the financial impact of COVID-19 on our business continues to be limited due to quickly changing circumstances and uncertain consumer demand for travel," Hyatt Chief Executive Mark Hoplamazian said in a statement. "The 2020 outlook we provided with our fourth quarter earnings announcement was clearly stated as our base case excluding the impact of COVID-19." Hyatt shares are up 4% over the last 12 months but down 14% in 2020. The broader S&P 500 index is up 10.6% in the last year but down 4.4% in 2020.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 02, 2020 17:47 ET (22:47 GMT)
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