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.”
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