Dalata Hotel Group has said it is seeing a significant reduction in bookings and a significant increase in cancellations following the spread of Covid-19 in Europe.
In a trading update, Dalata said the extent of the impact of Covid-19, the rate at which it spreads and the period for which it continues cannot be predicted at this time.
"It is therefore too early to estimate the financial impact on the group; we will provide a further update as the situation develops," the company stated.
Shares in the company fell by 9.8% in Dublin trade today.
"Dalata's decentralised operating model means that we have responsibility at a local level, co-ordinated through group, enabling us to respond quickly and effectively as this situation evolves," the company's chief executive Pat McCann said.
The CEO said the company's primary concern is the health and wellbeing of its people and its guests.
He said the company is implementing additional procedures and following the guidelines provided by the World Health Organisation.
"Our lowly geared asset backed balance sheet together with our experience in reacting to crisis scenarios gives us the resilience to manage the impact of the unfortunate outbreak of the Covid-19 virus"," he added.
