Hotel Occupancy Rate Hits Rock Bottom

“The hotel industry, which recorded a 64pc average occupancy rate in the last fiscal year with an average daily rate of 72 dollars a room, is one of the businesses hit hardest by the economic downturn caused by Novel Coronavirus (COVID-19). After Ethiopia reported the first case in mid-March, the occupancy rate slumped to below two percent, leading to losses of 35 million dollars in revenue a month.”