Covid-19 has hit revenue, though some hotels remained open for quarantined individuals, stranded tourists and essential service workersHotels group City Lodge is planning a R1.2bn rights offer, equivalent to its market capitalisation, as it battles cash flow difficulties due to the Covid-19 pandemic.
In afternoon trade on Monday City Lodge’s share was down 13.4% to R26.50, giving it a market capitalisation of R1.155bn.
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