Sunbird Hotels registers loss in half year results

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By Earlene Chimoyo

The coronavirus pandemic has again manifested its impact on the hospitality industry as hotel chain Sunbird Hotels and Resorts registers a loss in the first half of the year.

According to their financials for the period ending 30th June 2020, Sunbird has posted a loss of K1.3 billion from K1.1 billion profit that was earned during the same time last year.

The revenue for the group has also dropped from K9 billion at half year in 2019 to K6.1 billion this year.

The hospitality industry has been the hardest hit by the pandemic, with close to 50,000 job losses and a high magnitude in lost business.

Sunbird Chairman Phillip Madinga states that the loss in the revenues and emanates from the effects of Covid-19 and political anxieties as it was an election year.

While projecting a more tough time in the second half of the year, Madinga states that as a board they remain hopeful as most countries are easing travel restrictions.

 

 

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