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March 9, 2020, 7:17 p.m. EDT

Large ski-resort owner, two hotel companies rescind guidance amid coronavirus outbreak

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By Jeremy C. Owens

Travel companies continued to say that the spread of COVID-19 was making financial forecasts untenable Monday afternoon, when a ski-resort company and two hotel real-estate investment trusts rescinded financial guidance. Vail Resorts Inc. /zigman2/quotes/210098185/composite MTN -1.23% shares took the biggest hit, as the owner of ski resorts in Colorado, California and other areas announced earnings and revenue that were lower than analysts expected and rescinded its annual guidance as it sees business declining. "In the week ended March 8, 2020, we saw a marked negative change in performance from the prior week, with destination skier visits modestly below expectations," Chief Executive Rob Katz said in a news release . "We expect this trend to continue and potentially worsen in upcoming weeks." Vail Resorts shares plunged more than 11% in after-hours trading. Hotel REITs Park Hotels and Resorts Inc. /zigman2/quotes/208830686/composite PK -0.11% and Sotherly Hotels Inc. /zigman2/quotes/205451752/composite SOHO +0.20% also rescinded guidance after the bell Monday, joining large hotelier Hyatt Hotels Corp. /zigman2/quotes/207542923/composite H -2.42% , which rescinded guidance last week. Large online travel company Booking Holdings Inc. /zigman2/quotes/203576210/composite BKNG -3.20% also rescinded its annual guidance Monday afternoon, as travel companies struggle to deal with the spread of the novel coronavirus.

/zigman2/quotes/210098185/composite
US : U.S.: NYSE
$ 345.82
-4.30 -1.23%
Volume: 135,426
Oct. 20, 2021 4:00p
P/E Ratio
114.18
Dividend Yield
1.02%
Market Cap
$14.15 billion
Rev. per Employee
$41,069
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/zigman2/quotes/208830686/composite
US : U.S.: NYSE
$ 18.97
-0.02 -0.11%
Volume: 2.81M
Oct. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$4.49 billion
Rev. per Employee
$4.68M
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/zigman2/quotes/205451752/composite
US : U.S.: Nasdaq
$ 2.46
+0.0050 +0.20%
Volume: 64,870
Oct. 20, 2021 3:54p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$40.96 million
Rev. per Employee
$7.15M
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/zigman2/quotes/207542923/composite
US : U.S.: NYSE
$ 82.96
-2.06 -2.42%
Volume: 516,287
Oct. 20, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$9.34 billion
Rev. per Employee
$55,838
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/zigman2/quotes/203576210/composite
US : U.S.: Nasdaq
$ 2,384.18
-78.92 -3.20%
Volume: 406,975
Oct. 20, 2021 4:00p
P/E Ratio
237.04
Dividend Yield
N/A
Market Cap
$101.13 billion
Rev. per Employee
$334,778
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