City Lodge hotel group occupancies improve to break-even levels
Improved occupancies bode well for the group, but it still has a huge debt burden of R720m
20 June 2022 - 23:18
Occupancy figures in hotel group City Lodge from February to June exceeded what it requires to break even and have reduced its annual losses.
The company, which previously earned two-thirds of revenue from the local business travel market, had a torrid time during the pandemic lockdowns when domestic and international travel was halted...
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