Al Hokair Group says COVID-19 precautionary measures to impact revenues in 2020

09/04/2020 Argaam

 

Abdulmohsen Alhokair group for Tourism and Development Co.’s (Alhokair Group) revenues for the fiscal year 2020 will be impacted by the government’s precautionary measures to curb the spread of coronavirus, the company said in a bourse filing on Thursday.

 

The precautionary measures such as temporary suspension of Umrah, domestic and international flights, as well as closure of malls and health clubs, have led to a decline in occupancy rates in hotels, the statement added.

 

The company said it is unable to assess the financial impact of the precautionary measures at present and any further developments will be announced in due course.

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