Event Hospitality and Entertainment chief executive Jane Hastings has taken a $200,000 annual pay cut as the hotel and cinema group, backed by billionaire Alan Rydge, comes under growing earnings pressure from the worsening COVID-19 pandemic.

Mr Rydge, Event's chairman, and its non-executive board members all elected to forgo 20 per cent of their director's fees over the next 12 months "in response to the current impact of COVID-19".