CHRIS GILMOUR: What hasn’t killed City Lodge managers has made them stronger
The hotel group has adapted to the new normal and is on the path to recovery, but the market does not fully believe it
City Lodge Hotel Group (CLHG) has been through the mill since the Sars-CoV-2 pandemic struck in 2020.
Since then, the group has had to contend with most of their hotels being closed for long periods, a highly dilutive rights offer, the completion of their BEE deal, the sale of their East African operations and reorganising of bank covenants. ..