The coronavirus pandemic has hammered the whole travel industry, but SA's highly geared hotel chains have been particularly hard hit by having to close their properties during the lockdown.

Analyst Anthony Clark predicts a grim future for the hotel groups, noting that they have incurred billions of rands in debt - through buying assets or making additions to existing properties - which they now need to service with almost no cash flow...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now