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AccorHotels expects the coronavirus outbreak, which has killed more than 2,000 people in China, to hit revenues in February by €5 million as the company closes hotels in the country to help limit the spread of the disease.
The France-based multinational company operates around 5,000 hotels across 100 countries, and its presence in China accounts for up 10% of its total number of rooms. Greater China, including Hong Kong and Macau, represents 3% of our Accor’s total revenues.
Speaking during a 2019 full-year earnings call, Accor Hotels CEO Sébastien Bazin said the company has closed around 20% of its hotels in China and made the rooms available to Chinese authorities in their efforts to contain the disease and treat those affected.
"The impact...