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Coronavirus Is Hitting Travel Companies Hard — But Nobody Knows How Hard, Yet

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Coronavirus is hitting travel companies hard, but nobody knows how hard yet. jbarro writes

There are no lines at the Hong Kong airport. Photo: Paul Yeung/Bloomberg via Getty Images Booking Holdings — one of the two major online travel agency companies, which owns brands Priceline, Booking.com, Agoda, and Kayak, among others — announced on Wednesday that it expects customers to book 5 to 10 percent fewer hotel-room nights through its sites this quarter than they did in the first quarter of 2019.

Usually, public companies give periodic guidance to investors about how they expect their businesses to perform over the current quarter and coming year. But in the travel sector, a lot of companies have simply been saying they don’t know how much coronavirus will hurt profits.

 

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