City Lodge warns hotels recovery may be slow
Covid-19 had temporarily closed almost all of the group’s 62 hotels, but the company has seen improved occupancy since July
Hotels group City Lodge expects to break-even in the fourth quarter of its 2021 financial year as the Covid-19 economic crisis triggered a fight for survival even among heavyweight players in the industry.
City Lodge, which swung into a R486.6m loss in the year to end June, is among the biggest losers in the pandemic after governments worldwide rolled out imposed lockdown orders, imposed travel restrictions and cut off the industry from its customers. ..