PHOTO: PIERS FULLER/STUFF Masterton’s Copthorne Solway Park Hotel and Resort has been a mainstay of the accommodation scene in Wairarapa for decades.
New Zealand’s second largest hotel chain, Millennium and Copthorne, is in crisis facing big losses and has signalled job cuts in coming weeks because of the impact of coronavirus.
The company said it faced a loss of $24 million in hotel revenue for the first half of 2020 and anticipated the 2020 full year result for the hotel operations would run at a loss.
The company’s managing director BK Chiu said new border entry restrictions due to coronavirus and the effects of the requirement for all arrivals into New Zealand to self-isolate was having a significant and potentially long-lasting effect on its hotel business across the country.
Mr. Chiu said there would be a significant impact on the hotel chain’s employees across all of its hotels and corporate offices.
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