Wyndham's China Coronavirus Woes: 70 Percent of Hotels Closed
Skift Take
Wyndham Hotels and Resorts has closed about 1,000 of its hotels in China because of coronavirus. Those that remain are welcoming fewer guests. The outbreak continues to wreak havoc on the travel industry.
The coronavirus outbreak continues to dampen the hotel industry’s financial outlook for the year.
Wyndham Hotels and Resorts has closed about 70 percent of its hotels in China, and those that remain open are seeing fewer guests, Chief Financial Officer Michele Allen told investors on Thursday during a call detailing the company’s earnings for 2019.
“We expect this to continue through at least the end of March,” Allen said.
Occupancy has dropped about 75 percent at Wyndham’s China properties, Allen said.
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The company’s hotels in Southeast Asia, particularly in Korea, Singapore, and Thailand, are also experiencing declines in occupancy.
