€1.50
THURSDAY 3 SEPTEMBER 2020 • ISSUE 73
WWW.BUSINESSTODAY.COM.MT
PAUL COCKS
INTERNATIONAL Hotel Investments
p.l.c. - owners and managers of the Corin-
thia hotels and other properties and busi-
nesses - is projecting a loss of €57.4 million
for FY2020.
Revenue is projected to drop by €175.1
million to €93.2 million for FY2020 on ac-
count of the complete shutdown of the ma-
jority of the Group's operations in Q2 2020,
and the curtailment of operations during
the remainder of the financial year as a re-
sult of COVID-19.
As a result, EBITDA is expected to decline
from €69.8 million in FY2019 to -€5.2 mil-
lion which, considering the substantial re-
duction in revenue, is quite an achievement
which was only possible in consequence of
the very significant reductions in the oper-
ating cost base.
INTERVIEW | PAGE 5
PAGE 3
Editorial PAGE 7
BRIDGING TO THE BUDGET AND BEYOND
International Hotel Investments p.l.c.
projecting €57.4 million loss for 2020
Improving customer
experience while
reducing support costs
PAGE 2
BOV coughs up
€26.5m to end
Swedish pensions
litigation headache
