Tsogo Sun Hotels said it could face a fall of up to 10 percent in full-year core earnings due to the drop in local and international travel.
JOHANNESBURG - South Africa’s Tsogo Sun Hotels, one of many tourism companies to be hit hard by the impact of the coronavirus, said on Thursday it could face a fall of up to 10 percent in full-year core earnings due to the drop in local and international travel.
One of South Africa’s biggest hotel groups, with brands such as Southern Sun and Garden Court, said the first nine months of trading saw demand by corporate and leisure groups as well as the transient traveller showing little signs of recovery as consumers and firms rein in spending in a struggling economy.
All Tsogo Sun hotels in South Africa, the rest of Africa and the Seychelles have been closed, with the exception of those designated as quarantine facilities or as accommodation for essential service workers and persons awaiting repatriation.
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