Picture: GETTY IMAGES

The share price of Tsogo Sun Hotels was up 18% in early trade on Monday, while City Lodge and Sun International also saw strong gains

JSE-listed counters dependent on tourism and liquor sales rose on Monday ahead of an easing of Covid-19 restrictions on Tuesday.

President Cyril Ramaphosa announced on Saturday night that restrictions on interprovincial travel, liquor and tobacco sales, and restaurants would be lifted as SA moves to level 2 of the risk-adjusted strategy at midnight on Monday.

The share of Tsogo Sun Hotels jumped as much as 18.5% to R2.49 in morning trade on Monday, while Sun International rose as much as 13% to R13.80, and was on track for its best day in about two months.

City Lodge rose as much at 14.36% to R6.29, an almost three-month high.

Distell was up 2.61% to R78.50.

Hospitality and liquor shares had risen last week, when there was speculation that a lifting of restrictions was imminent.

Articla Source:
https://www.businesslive.co.za/bd/companies/transport-and-tourism/2020-08-17-hospitality-and-liquor-shares-rise-as-sa-heads-to-level-2-lockdown/