Covid woes push City Lodge into R550m loss
The company anticipates a slow recovery of the hospitality sector, but is encouraged by vaccination programmes
City Lodge Hotels posted a dismal set of interim results on Friday as occupancy rates fell amid prolonged lockdown measures and fears of a new wave of Covid-19 infections.
The company said the results for the six months to end- December 2020 were brought about by the “devastating impact” of the coronavirus on individuals and economies. ..