City Lodge’s profits fall as occupancy rates dwindle
Hotel group’s annual net profit declines amid low business and consumer confidence
16 August 2019 - 08:26
City Lodge Hotels says full-year net profit fell more than a quarter as more of its rooms were unused in the year to end-June amid low business and consumer confidence.
Average occupancies for the group declined to 55% from 59% the previous year, the operator of Courtyard Hotels and Town Lodges said on Friday...
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