March 13, 2020 / 11:15 AM / 15 days ago

BRIEF-Playa Hotels & Resorts Withdraws 2020 Financial Guidance

March 13 (Reuters) - Playa Hotels & Resorts NV:

* PLAYA HOTELS & RESORTS WITHDRAWS 2020 FINANCIAL GUIDANCE

* PLAYA HOTELS & RESORTS NV - WITHDRAWN PREVIOUSLY ANNOUNCED 2020 OUTLOOK DUE TO IMPACT ON TRAVEL DEMAND AS A RESULT OF SPREADING COVID-19 OUTBREAK

* PLAYA HOTELS & RESORTS - TO DATE, TOTAL REVENUE NEGATIVELY IMPACTED BY ABOUT $15 MILLION OF CANCELATIONS, EXCLUDING. POTENTIAL COLLECTION OF CANCELLATION FEES

* PLAYA HOTELS & RESORTS NV - DEVELOPED COST CONTINGENCY PLANS FOR A WIDE RANGE OF REVPAR SCENARIOS ACROSS ALL GEOGRAPHIES

* PLAYA HOTELS & RESORTS - GIVEN HIGHER THAN NORMAL CANCELLATION RATES BELIEVE IT IS PRUDENT TO WITHDRAW PRIOR GUIDANCE, NOT PROVIDE UPDATED GUIDANCE

* PLAYA HOTELS & RESORTS NV - HAS DRAWN ADDITIONAL $40 MILLION ON REVOLVING LINE OF CREDIT AS PRECAUTIONARY MEASURE

* PLAYA HOTELS & RESORTS - MONITORING COVID-19 SITUATION & FUNDAMENTALS CLOSELY, EXPECT TO PROVIDE FURTHER INFORMATION DURING Q1 EARNINGS CALL

* PLAYA HOTELS & RESORTS NV - ABOUT TWO-THIRDS OF OUR TOTAL CANCELED BUSINESS IS FOR STAYS IN MARCH AND APRIL

* PLAYA HOTELS & RESORTS NV - MAY AND JUNE CANCELLATIONS REPRESENT ANOTHER ABOUT 20% OF TOTAL CANCELLATIONS THUS FAR Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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