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Evercore analysts cut hotel outlook, predict 9/11-like hit from coronavirus

Mar 10, 2020 - SNL Real Estate Daily
Financial Results

The analysts did not downgrade any hotel owners or operators, but said operating metrics are likely to take a year to recover from the effects of the virus on travel.

Evercore ISI analysts chopped their 2020 estimates for hotel owners and operators, comparing the shock from coronavirus to the aftermath of the Sept. 11, 2001, terrorist attacks in the U.S.

For Evercore's covered companies, the analysts cut average expectations for first-quarter adjusted EBITDA by roughly 9% for real es...