Prices of hospitality establishments are expected to increase in the coming months, owing to rising cost pressures, investment research firm Simonis Storm Securities said Tuesday. Higher food, fuel, and utility costs will weigh on profit margins and could potentially lead to higher room rates, according to SSS Economist, Theo Klein, following the release of the hospitality national occupancy rate in March. Klein said according to an industry expert, hotels in Namibia are 23% more expensive than in Cape Town or Johannesburg.
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