City Lodge CEO upbeat about 2020 prospects
Andrew Widegger says the national elections will have a positive effect after a tough 2018
City Lodge Hotels CEO Andrew Widegger says he is confident the national elections in May will bring stability to SA’s hotel market. Speaking on Thursday after the release of the company’s financial results for the six months to December, Widegger said he believed the company’s fortunes would gain a boost in 2020, after it had navigated through 2019’s difficult business environment. “I think we will get an election result which will be very positive for SA and business. Better policies will come and investment and economic growth will return. Our business will improve along with it,” he said. Widegger said the owner of budget to mid-range hotels in SA and other parts of Africa, including Uganda, Namibia, Mozambique and Tanzania, struggled in 2018 off the back of weak business confidence and having to drop room rates. But he is optimistic the 2019 elections will deliver positive results. City Lodge’s average occupancy across its hotels during the six months to December fell from 63% t...
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