News Formal

City Lodge: No silver linings for hard-hit hotel industry

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Canada News News

The hospitality sector was particularly hard hit by the Covid-19 shutdowns and restrictions, and the impact will be felt for a while longer

City Lodge was founded in 1985, with the opening of its first hotel — City Lodge Randburg .

The group listed five years later on the JSE. Since then it has grown acquisitively and organically in both the upmarket and budget hotel categories. In 1995 it acquired 50% of the upmarket Courtyard Suite Hotel , and also opened the budget-conscious Road Lodge. In 2013 the group started its African expansion by acquiring a 50% stake in two hotels in Kenya . Since then, it has ventured into Namibia, Tanzania and Mozambique, but its SA operations remain dominant in its portfolio.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ramaphosa welcomes R950m hotel investment in EkurhuleniNew Radisson hotel and conference centre will open next month 🤔🥴
Source: BDliveSA - 🏆 12. / 63 Read more »

US stocks extend sell-off over Covid-19 and election worriesShares of hotels, airlines and other companies sensitive to Covid-19-related turmoil fall
Source: BDliveSA - 🏆 12. / 63 Read more »