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Tsogo Sun optimistic Covid-19 crisis is behind it, but full recovery still a year off

SA’s biggest hotel operator, Tsogo Sun Hotels, says improving occupancies has put it in a position to comfortably start generating cash rather than burning through it, but it expects to have to wait until the summer of 2022 before it sees a full return to pre-pandemic trading levels.

After the third wave wiped out about R100m in revenue, the uptick in trade was quite remarkable, CEO Marcel von Aulock said during an investor presentation on Wednesday, though the group is still trading at…

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