Hospitality industry loses $50b to COVID-19

HOTEL and Tourism industry in Africa has lost more than $50 billion in revenue to the raging Coronavirus , it was learnt on Thursday.

“To this end, the hotelier is diversifying its portfolio and reducing its workforce as part of its cost management initiatives,” Transcorp Hotels Plc Managing Director Mrs. Dupe Olusola, said at a news conference yesterday. “Despite the losses incurred we have fulfilled our obligations to staff. At the inception of the pandemic, we maintained a 100 per cent salary payment to our over 900 employees in March and April.

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Transcorp Hotels To Restructure Business Strategy Amid Impact Of COVID-19 | Leadership NewspaperTranscorp Hotels To Restructure Business Strategy Amid Impact Of COVID-19 The management of Transcorp Hotels has announced steps to ensure business continuity in the wake of the losses recorded due to the COVID-19 pandemic.
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