(Alliance News) - PPHE Hotel Group Ltd on Wednesday said it is "closely monitoring" the impact of Covid-19 and said it is too early to provide any "meaningful" guidance on trading and earnings.
"Due to the fast-moving nature of the situation, it is too early to provide any meaningful estimate of quantum on the group's earnings for the current financial year given the trajectory and duration of the virus and its impact remains highly uncertain. The necessary actions to minimise the impact on the business are being taken," the operator of art'otel-branded hotels said.
The company also noted an increase in hotel cancellations and a slowdown in future bookings across the travel and hotel industry, including the company's own hotel and resort estate.
Shares in the company were down 12% at 1,320.00 pence each in London on Wednesday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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