RLJ withdraws 2020 guidance
RLJ withdraws 2020 guidance
11 MARCH 2020 8:52 AM

RLJ Lodging Trust withdrew its first-quarter and full-year 2020 guidance amid coronavirus concerns.

BETHESDA, Md. -- RLJ Lodging Trust (the “Company”) (NYSE: RLJ) today announced that it is withdrawing its first quarter and full year 2020 outlook issued as of February 25, 2020, due to the growing uncertainty and travel related concerns and restrictions related to the COVID-19 (“Coronavirus”).

“Over the past week, we have experienced a notable increase in transient and group cancellations that is negatively impacting our business and ability to achieve our financial targets,” commented Leslie D. Hale, President and Chief Executive Officer. “In light of the ongoing uncertainty and evolving situation surrounding the Coronavirus, we believe it is prudent to suspend our financial outlook until we have improved clarity. In the meantime, RLJ is extremely well-positioned to navigate through this period of uncertainty with a seasoned management team, a solid balance sheet and significant liquidity that allow us to continue to generate meaningful shareholder value.”

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editorial Director Stephanie Ricca at sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.