City Lodge expands in East Africa

Tuesday, August 19, 2014

City Lodge Hotels has set aside R475m to build two new hotels in East Africa, and is looking for other opportunities to add hotels in capital cities across East and Southern Africa, the company said on Friday.

The company last year opened its 104-room Town Lodge in Gaborone, and it recently bought the 50% it did not already own in two hotels in Nairobi, Kenya.

In its year ended June City Lodge’s normalised diluted headline earnings share rose by 11% to 643.1c, with revenue growing 9% to exceed R1bn for the first time.

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