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Lakeview Hotel Investment Corp. Provides Business Update

WINNIPEG — Lakeview Hotel Investment Corp. recently released an update on its business operations and the impact of COVID-19. 

All six of the company’s owned and operated hotels are currently open, with modified operations to ensure the health and safety of employees and guests. These modifications include closing all food-and-beverage operations, as well as cost-saving measures such as reducing staffing levels.

Lakeview has indicated it’s also considering temporarily shutting down operations altogether at some of its hotels in an effort to preserve cash and strengthen its financial position.

“Guestroom bookings and occupancy rates have deteriorated rapidly as a result of COVID-19 and its impact on the Canadian economy as a whole,” a company statement reads. “Between a significant reduction in people travelling and a significant reduction in spending in the oil and natural-resources industries, Lakeview has seen its occupancy drop to all-time lows.”

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