Cairo – Mubasher: The board of directors of the National Company for Housing for Professional Syndicates (NCH) decided to close down Le Méridien Heliopolis hotel until the end of May.

The hotel is unlikely to generate any revenue in the current period as no reservations will be made amid the coronavirus (COVID-19) outbreak, the company said in a bourse disclosure on Wednesday.

It is noteworthy that during 2019, the company reported net profits of about EGP 807,200, down from EGP 3.68 million a year earlier.