PPHE Hotel Group said that “due to the fast-moving nature of the situation”, it was too early to estimate the impact of COVID-19 on trading.
The group said that, in line with the rest of the sector, there had been an increase in cancellations and a slowdown in future bookings.
The company said: “It is too early to provide any meaningful estimate of quantum on the group’s earnings for the current financial year given the trajectory and duration of the virus and its impact remains highly uncertain. The necessary actions to minimise the impact on the business are being taken.
“PPHE has a proven 30-year track record of navigating market and economic cycles. The group has a strong balance sheet, a well-invested estate in key gateway cities such as London and Amsterdam and an owner-operator business model which provides the flexibility to take proactive measures to respond to changing market conditions.”