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Addis Ababa: Hotels are busy paying debts
#Ethiopia It has been said that most of the star hotels in the capital have more expenses than income.
It is said that the lack of peace in Ethiopia is also affecting the hotels in the capital.
Addis Ababa Hotel Owners Association President Mrs. Aster Solomon told Ethio FM that the hotels are mostly paying off the borrowed money, so their income is decreasing.
The president of the association cited the decrease in tourist flow in Addis Ababa as the reason for the lack of peace in the country, and stated that this had a negative impact on the income of hotels.
Apart from this, he said, the reduction of international meetings held in Addis Ababa has also reduced the income of hotels.
Although the Addis Ababa Hotel Owners Association spoke with the concerned parties, they stated that nothing has changed.
He expressed concern that if the market weakness continues, hotels will face a severe shortage of operating funds and may find it difficult to pay salaries to their employees.
The president of the association stated that in order to remain in business, hotel investors will be forced to allocate more capital.
By Enoch w/Gabriel