Hotel occupancy rates in Addis Ababa are now as low as two percent as coronavirus casts shadow over the hospitality industry, according to a survey by Addis Ababa Hotel Owners Association.
88 members of the association decided to partially or fully stop operations. During the last fiscal year, the occupancy rate of hotels was around 64Pct.
About 12Pct of hotels in the capital are currently being used as quarantine centers. As the rest face a huge decline in customers, the hotel industry in the capital lost USD35 million in revenues due to the virus.
Unable to cope up with the loss they have been registering lately, some hotels have already started laying off their employees.