RTG exceeds profit estimates on higher room occupancy

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HOSPITALITY firm Rainbow Tourism Group (RTG) says it has so far realised US$500 000 in profit from operations during the first five months to May 31, 2024, surpassing earlier projections.

Players in the tourism and hospitality industry have become accustomed to slow business performance during this time of the year with visitors traditionally peaking in the fourth quarter.
According to the group, the hotel room occupancy rate grew to 60 percent, from 48 percent in the same period last year as foreign currency revenue rose 42,85 percent to US$5 million from US$3,5 million in the comparative period.