News Formal

Hospitality industry loses $50b to COVID-19

  • 📰 TheNationNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 69%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

HOTEL and Tourism industry in Africa has lost more than $50 billion in revenue to the raging Coronavirus (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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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.
Source: LeadershipNGA - 🏆 4. / 77 Read more »