The first phase of the City Lodge Hotel Newtown in the Johannesburg CBD. Picture: SUPPLIED
The hotel group, which had all 55 of its hotels cease trading, said on Friday that it would report a normalised headline earnings loss of between R70.1m and R86.1m to R267.1m for the year to end-June 2020. The hospitality industry has been one of the hardest hit sectors by Covid-19 and the consequent government lockdown enforced to manage its spread.
The sector was later permitted to operate but only for business and essential purposes as lockdown restrictions eased.
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