Improved occupancies bode well for the group, but it still has a huge debt burden of R720m
Occupancy figures in hotel group City Lodge from February to June exceeded what it requires to break even and have reduced its annual losses.
The company, which previously earned two-thirds of revenue from the local business travel market, had a torrid time during the pandemic lockdowns when domestic and international travel was halted...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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