formControlName must be used with a parent formGroup directive.

<form [formGroup]="guestForm" novalidate>
    <div class="panel-body">
        <form> -> Remove this
            <div class="col-md-12 col-sm-12">
                <div class="form-group col-md-3 col-sm-6">
                    <label>First Name*  </label>
                    <input formControlName="firstname" type="text" class="form-control input-sm">
                </div>
            </div>
        </form> -> Remove this
    </div>
</form>