S&P acts on European hotels, others

S&P said the hotel and lodging sector is facing an unprecedented freefall in passenger numbers due to the rapid escalation of the Covid-19 pandemic.

The agency revised the outlooks on asset-light operators InterContinental Hotels Group plc and Accor SA to negative from stable and affirmed their ratings.

S&P downgraded Thame and London Ltd. (Travelodge) to CCC+ from B- and placed its ratings on CreditWatch negative. The agency also placed the ratings for Casper MidCo SAS (B&B Hotels) and Amadeus IT Group SA on CreditWatch negative.

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