Empty hotels only have unwelcome debt as a guest

28 June 2020 - 00:28 By JANE STEINACKER

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...

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