In the past week or so we have had companies coming out to give profit guidance. A profit guidance is issued when a company feels that the market expectations of its financials are significantly over or understated and needs analysts to realign their forecasts. This article will focus on the 3 travel-related companies that had such announcements. Ascott REIT Ascott issued a profit warning at the start of the week citing that income available for distribution for 1H2020 could decline by 55-65% yoy while DPU would decline 65-75% yoy. The larger decline in DPU was probably due to the divestment gains from Ascott Raffles Place in 1H2019. Declines are attributed to the Covid-19 pandemic which have led to a 44% yoy decline in international tourist arrivals according to the World Tourism Organization from Jan-Apr2020. On a full-year basis, the decline is expected to be 58-78% yoy . Ascott REIT continues to earn income from its master leases and long stay clients whose demand is less...