The Cheif Excetive Officer (CEO) Transcorp Hotel plc , Dupe Olusola has said that the company records a monthly lose of N1 billion amid the coronavirus pandemic.
Olusola had spoken on Thursday disclosing that in order to manage and cut down costs the company had decided to restructure it's business strategy; diversifying into asset-light business models ; reduction of the workforce and others.
Speaking further, She revealed that Transcorp Hotels had temporarily stopped fixed assets and operating equipment also decreasing it's maintenance cost and energy consumption.
According to reports from nairametrics explains that:
Transcorp Hotels plc had suffered a loss of about N9 billion recording a N456 million loss in March, a N1.03 billion decline recorded as at April and a drop of N840 million for the month of June.