Egypt's NCH shuts down Le Méridien Heliopolis on COVID-19 outbreak

The hotel is unlikely to generate any revenue in the current period

  
Image used for illustrative purpose. A woman walks past the Le Meridien hotel, in Rome, Italy, August 6, 2019.

Image used for illustrative purpose. A woman walks past the Le Meridien hotel, in Rome, Italy, August 6, 2019.

REUTERS/Yara Nardi

Cairo –  The board of directors of the National Company for Housing for Professional Syndicates (NCH) decided to close down Le Méridien Heliopolis hotel until the end of May.

The hotel is unlikely to generate any revenue in the current period as no reservations will be made amid the coronavirus (COVID-19) outbreak, the company said in a bourse disclosure on Wednesday.

It is noteworthy that during 2019, the company reported net profits of about EGP 807,200, down from EGP 3.68 million a year earlier.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From North Africa