Leisurely pace for ungeared City Lodge
The company is in a good position, though it is feeling pressures related to the constrained economy and virtual business meetings
12 September 2024 - 05:00
City Lodge Hotels, now debt free, is valiantly fighting for a bigger portion of the local leisure market. But the group remains determined to cling to its traditional sweet spot of accommodating business travellers in what is still a zoomed-out market.
The company has already beefed up its leisure component markedly — partly through improved food and beverage sales, which were up a nifty 22% year on year to R363m. This line now accounts for a chunky 19% of total revenue...
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