Dawn hotels revenue 54 percent down

Hotels revenue for listed Dawn Properties in the past nine months to September 30 has dipped by 54 percent compared to the same period last year as result of the Covid-19-induced lockdown, the company’s secretary, Markus de Klerk has said.

On March 30 President Emmerson Mnangagwa placed Zimbabwe under the initial 21-day lockdown as part of measures by the government to curb the spread of Covid-19 pandemic.

The lockdown, which however remained in place and reviewed at intervals saw a number of businesses especially those in the travel and tourism sector being hardest hit.

“Hotel revenue for the nine months ended 30 September 2020, at ZWL$65.3 million, was 54% lower than the revenue achieved during the same period last year,” said de Klerk.

“This was mainly due to depressed occupancies as a result of strict lockdowns imposed by the government during the second quarter in response to the Covid-19 pandemic. Year to date average occupancies as at 30 September 2020 stood at 16% compared to 41% achieved during the same period in prior year.”

The secretary said the group witnessed an increase in hotel occupancies from the previous quarter as three additional hotels (Monomotapa Hotel, Troutbeck Hotel and Carribea Bay Hotel) were reopened in July and August 2020. 

“Average occupancy for all the hotels for third quarter 2020 was 13% compared with a 42% occupancy achieved during the same period last year. The two resort hotels namely Hwange Safari Lodge and Elephant Hills Hotel were only reopened in October 2020,” de Klerk said.

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