Cresta profits halve as occupancies drop

Cresta says the hospitality sector is under pressure in towns and cities
Cresta says the hospitality sector is under pressure in towns and cities

Hospitality group, Cresta Marakanelo Limited profits halved in the six months to June 2017 as its operations in both Botswana and Zambia were weighed down by low occupancy levels.

During the six months ended June 30, 2017, the group, which provides hotel and related services in Botswana and Zambia recorded an overall profit before tax of P9.1 million for the period, reflecting a 50% drop from the result recorded for the same period last year.

On the other hand, revenue  printed at P153 million representing a four percent decline from P160 million that was recorded for the same period in the prior year.

Editor's Comment
Oh what a State funeral!

That rare sight deserves heartfelt praise, not only for President Duma Boko and his administration, but also for the Botswana Democratic Party (BDP), the Umbrella for Democratic Change (UDC), the Mogae family, and the entire country.President Boko’s decision to grant a full state funeral to a man who belonged to a rival party was a mark of true statesmanship. He recognised that national leadership carries a weight that belongs to the whole...

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