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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Marriott International    MAR

MARRIOTT INTERNATIONAL

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U.S. airlines, hotels extend rebooking options as coronavirus spreads

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02/25/2020 | 06:49pm EST

U.S. airlines and hotels are extending options for customers to rebook travel to a growing list of countries, including Italy, as coronavirus cases spiked outside of China and sparked fears of a global pandemic.

The United States told Americans on Tuesday to begin preparing for the coronavirus to spread within the country as outbreaks in Iran, South Korea and Italy escalated, triggering concerns of a hit to global travel demand.

Delta Air Lines Inc said that reservations through March 2 on flights to Bologna, Milan and Venice in northern Italy, where cases have climbed, are eligible for rescheduling. Air Canada has also added parts of Italy to its list of places eligible for rebookings.

Hyatt Hotels said it would allow travelers from South Korea, Japan and Italy to cancel or change their hotel bookings for free, expanding the policy from mainland China, Hong Kong, Macau and Taiwan.

The cancellations or booking changes at Hyatt are valid for reservations made through March 31, the U.S. hotel operator said on its official Chinese social media account on WeChat.

Major airlines have also issued travel waivers, eliminating change fees, for flights to South Korea.

United Airlines Holdings Inc and American Airlines Group Inc said on Tuesday they were still monitoring developments in Italy.

So far U.S. airlines have only canceled flights to China, a move that followed the U.S. State Department's decision to elevate a travel advisory to the country to the same level as Afghanistan and Iraq.

American Airlines shares dropped 9.3% to $23.12 on Tuesday, below their price after the company emerged from Chapter 11 bankruptcy in 2013.

Cowen analyst Helane Becker said the impacts extended to car rental companies as well as concessions and restaurants in airports and on cruise lines.

"It's not just the airlines that are being impacted by people making different travel plans," she said.

Royal Caribbean Cruises said it has canceled 30 sailings in Southeast Asia and changed several itineraries in the region due to the coronavirus outbreak, hitting its 2020 earnings per share by about $0.90.

Hyatt's larger rivals Marriott International Inc and Hilton Worldwide Holdings Inc have also issued cancellation waivers for guests affected by the outbreak in mainland China, Hong Kong, Macau and Taiwan until March 31.

The hotel chains did not immediately respond to requests for comment if they were extending the waiver to South Korea, Japan and Italy as well.

Even travel companies without exposure to Europe and Asia were keeping an eye on developments. JetBlue Airways Corp, which only flies in the United States, the Caribbean and Latin America, said on Tuesday it had activated its pandemic response team to monitor the situation in real time.

The team was last called on for the Zika virus outbreak in 2016, a spokesman said.

By Tracy Rucinski and Brenda Goh

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -1.18% 37.01 Delayed Quote.-17.40%
AMERICAN AIRLINES GROUP INC. 0.06% 23.1488 Delayed Quote.-19.39%
DELTA AIR LINES INC. 1.14% 51.48 Delayed Quote.-12.98%
HILTON WORLDWIDE HOLDINGS INC. -0.43% 28.98 Delayed Quote.-15.06%
HILTON WORLDWIDE HOLDINGS INC. 1.39% 99.59 Delayed Quote.-10.85%
HYATT HOTELS CORPORATION 1.36% 80.88 Delayed Quote.-10.66%
JETBLUE AIRWAYS CORPORATION -1.56% 18.145 Delayed Quote.-2.51%
MARRIOTT INTERNATIONAL 2.25% 125.83 Delayed Quote.-18.06%
ROYAL CARIBBEAN CRUISES LTD -0.12% 88.65 Delayed Quote.-27.64%
UNITED AIRLINES HOLDINGS, INC. -0.27% 70.64 Delayed Quote.-19.89%
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Financials (USD)
Sales 2019 21 137 M
EBIT 2019 2 875 M
Net income 2019 1 481 M
Debt 2019 10 783 M
Yield 2019 1,47%
P/E ratio 2019 28,2x
P/E ratio 2020 19,0x
EV / Sales2019 2,43x
EV / Sales2020 2,37x
Capitalization 40 566 M
Chart MARRIOTT INTERNATIONAL
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Technical analysis trends MARRIOTT INTERNATIONAL
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 28
Average target price 146,46  $
Last Close Price 124,08  $
Spread / Highest target 40,2%
Spread / Average Target 18,0%
Spread / Lowest Target -0,87%
EPS Revisions
Managers
NameTitle
Arne M. Sorenson President, Chief Executive Officer & Director
John Willard Marriott Executive Chairman
Kathleen Kelly Oberg Chief Financial Officer & Executive Vice President
Bruce Hoffmeister Global Chief Information Officer
Stephanie C. Linnartz Group President-Consumer Operations & Technology
Sector and Competitors
1st jan.Capitalization (M$)
MARRIOTT INTERNATIONAL-18.06%40 566
HILTON WORLDWIDE HOLDINGS INC.-10.85%27 434
INTERCONTINENTAL HOTELS GROUP PLC-11.90%10 785
ACCOR-15.64%9 881
HUAZHU GROUP LIMITED-17.37%9 400
HYATT HOTELS CORPORATION-10.66%8 120