Tsogo Sun Hotels saw its income for the year more than double to R959 million (€53.91m). This is compared to the R335 million (€18.83m) recorded for the same period last year) whilst operating loss came in at R50 million (€2.81m) compared to the loss of R44 million (€2.47m) recorded in 2020.
This was announced yesterday (Wednesday, November 24) by the group in a SENS release for its interim results for the six months ending September 30.
The group said in a statement: “While we are encouraged by the recent upward trend in trading, we are acutely aware that we are still trading at only 50% of system-wide rooms sold prior to COVID-19 and at occupancies far below the group's long-term average.”
The group added that, until the international and corporate markets return and demand levels normalise, it would continue to focus on cash preservation and liquidity to continue trading through the pandemic and to protect the livelihoods of the many stakeholders who depend on Tsogo Sun Hotels - from employees and suppliers to communities and investors.
The Tsogo Sun statement noted that it was clear that COVID-19 would be a reality for the foreseeable future and the only way to return to some form of normality was to ensure that the majority of the South African adult population is vaccinated.
“For the hospitality industry in particular, ease and affordability of travel is of paramount importance as is the safety and confidence of tourists once they reach our shores and stay in our hotels,” said Tsogo Sun.
Tsogo Sun properties include the Palazzo at Montecasino, Johannesburg, the Maharani Hotel in Durban, the Sandton Sun in Gauteng, the Beverly Hills in Umhlanga, the Southern Sun The Cullinan in Cape Town, and the Arabella Hotel, Golf & Spa near Hermanus, Western Cape.