City Lodge pins hope on budget speech as occupancy rates fall
The hotel group reported that profit fell by more than two thirds in its half-year ended December
20 February 2020 - 11:21
UPDATED 20 February 2020 - 17:44
Hotel group City Lodge, reeling from the effects of a weak economy that resulted in its profits falling two thirds in the six months to December, is hoping the budget speech will bring some relief.
CEO Andrew Widegger said weak consumer confidence continues to weigh on occupancy rates at its SA hotels, adding that he hopes the upcoming budget will pave the way for a revitalisation of SA’s economy...
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