Botswana carries Wilderness as bed nights fall across operations
source: Sunday Standard
by Sunday Standard Reporter
Wilderness Holdings predicted that tough market conditions will continue in the medium term with bed night demand battered as traditional markets in the U.S and Europe remain affected by the credit crunch.
Unfavourable exchange rates, rising costs and recession in source markets remain some of the challenges for company that operates across the SADC countries.
Andy Payne, Chief Executive Officer of the Botswana Stock Exchange (BSE) and JSE listed company, said down ward pressure on yield was managed well while the business real grew in bed night sales.
“We do not expect much change in some markets. Our source markets (US and Europe) are in a precarious economic situation,” Payne pointed out at the [continue reading]