AFRICAN Sun says its revenue was up 48 percent to $4,32 billion during the year to December 31,2021, on the back of a eight-percentage point increase in occupancy to 31 percent.

In a statement accompanying results, the company said the improved performance reflects the impact of a more open and active economy as lockdown restrictions were substantially relaxed in 2021 compared to the period during the height of the pandemic in 2020.

The achieved occupancies are however still lower than the 40-plus percent occupancies achieved during pre-Covid-19 era.

“Foreign source markets were largely closed for the greater part of the year, with foreign business contributing only eight percent towards hotel revenue which is significantly lower than the 30-plus percent contribution achieved during pre-Covid 19 era.”