Earthquake in Chile is damaging for Sun International Hotel
The earthquake in Chile had severe damage to the Monticello a hotel in Sun International. The hotel, which is about 60 km outside the capital Santiago is located, opened in 2008. The $ 200 million complex covering 66,300 m2. The extent of the damage and repair costs are still unknown. Members of Sun International’s management is traveling to Chile for the damage investigated. The hotel was closed off until the damage was repaired.
The earthquake, aftershocks and the sprinkelblusserstelsel significant damage to the casino, retail area, the convention center and the administration areas caused. “It is a miracle given the strength of the earthquake and aftershocks that only five people were injured, one seriously,” he said. David Coutts-Trotter, chief executive of Sun International, according to a statement. More than 3,500 people on Saturday morning the hotel in less than eight minutes evacuated.
The company has insurance against earthquakes for damage to property and the cost of disruption to operations. A surcharge of $ 8 million was paid in the other insurance claims will be paid. Coutts-Trotter on Friday in an interview on the group’s interim results to end December said that Monticello was one of the group’s profitable operations in that period. The Monticello’s revenues in the second quarter of the interim period by 13% compared with the previous quarter. Earnings before interest, tax, depreciation and amortization (EBITDA) of R36 million in the six months achieved compared with a loss of R23 million last year.