Marriott Withdraws 2020 Guidance Due to Coronavirus
In what can't be considered a great surprise, hotelier Marriott International (NASDAQ: MAR) has withdrawn the guidance for its current 2020 fiscal year. The reason, of course, is the sudden and sharply deleterious effect of the SARS-CoV-2 coronavirus, and the COVID-19 disease it causes, on the hospitality industry.
Previously, Marriott had provided "base case" guidance -- i.e., estimates that don't take into account the potential impact of the coronavirus's spread and other costs that are challenging to forecast -- for 2020.
Image source: Marriott International.
Source Fool.com
