Saudi tourism, retail group Alhokair revenues hit by COVID-19 restrictions
Alhokair Group for Tourism and Development said the precautionary measures adopted by the Saudi government to curb the spread of COVID-19 have “directly affected” the company’s revenues.
Alhokair said in a bourse filing on April 9 that it first closed all its entertainment venues in line with the government’s decision on March 15.
It went on to also temporarily close a number of restaurants and hotels to “reduce expenses and maintain cash flows”, said the company.
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