SA’s biggest hotel operator, Tsogo Sun Hotels, has warned of a  revenue fall that exceeds its R3.37bn market value, as the industry grapples with a slump in tourist and business travel as a result of Covid-19.

Revenue is expected to be up to 76% lower, or R3.4bn, to end-March Tsogo Sun said in a trading update, also warning of an up to R1.5bn fall in core profit, to a loss of about R189m...

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