City Lodge eager to cash in on recovery
Economic recovery in South Africa and new hotels in Dar es Salaam bode well for the hotel operator
City Lodge Hotels expected to be among the first beneficiaries of an economic recovery in SA led by the reforming ANC, the company said on Thursday. "In SA, there have been encouraging signs of improving sentiment and meaningful political change that could boost the economy — these have however yet to translate into noticeably stronger trading. "It is expected that the group will be an early beneficiary of higher levels of confidence," the company said. The group’s occupancies in SA fell two percentage points to 64% in the six months to December. It attributed this to the depressed business environment and low consumer confidence levels. In the drought-stricken Cape Town area, occupancies "remain good". It had fallen slightly from October and this trend had continued into 2018. "The group has taken a number of proactive steps to reduce water consumption at its six hotels in the greater Cape Town area and alternative sources of supply are being investigated," the group said. Group re...