Plus   Neg

Host Hotels & Resorts Says Coronavirus Outbreak Impacted Revenues By $14 Mln

Host Hotels & Resorts Inc.?(HST) said that, to date, the Coronavirus outbreak has negatively impacted its total revenues by about $14 million, net income by about $7 million.

However, the company stated that the current impact does not materially affect the its previously announced 2020 guidance, which remains unchanged.

The current decline in operations has primarily been group business cancellations, particularly in California, and the Company is working closely with the operators of its properties as the Coronavirus situation continues to evolve.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apotex Corp. recalled all lots of type 2 diabetes medication Metformin hydrochloride in the form of oral film-coated tablets for the potential presence of nitrosamine impurity, N-Nitrosodimethylamine (NDMA), above levels of the Acceptable Daily Intake Limit (ADI), the U.S. Food and Drug Administration or FDA said in a statement. Groupe Renault plans to cut about 14,600 jobs across the world and lower its production capacity. The plan includes almost 4,600 jobs reduction in France, through voluntary retirement and retraining. Amazon said it will convert 125,000 of the 175,000 temporary workers it hired in March amid the coronavirus pandemic, to permanent full-time employees in June. The e-commerce giant had hired the temporary employees in March to meet strong consumer demand amid the lockdown. The job openings were in Amazon's fulfillment centers and its delivery network.
Follow RTT