R1bn

CITY LODGE TO IN­VEST

Finweek English Edition - - THE WEEK -

Ho­tel group City Lodge is plan­ning to in­vest about R1bn to ex­pand its op­er­a­tions in East and South­ern Africa, fo­cus­ing on both the busi­ness and tourist mar­kets, Reuters re­ported. City Lodge is cur­rently build­ing a 172-room ho­tel in Nairobi, where it al­ready op­er­ates two ho­tels, and is also build­ing in Tan­za­nia, Mozam­bique and Namibia. CEO Clif­ford Ross told Reuters the group also be­lieves there is an op­por­tu­nity for a City Lodge prod­uct in Port Louis or Ebene in Mau­ri­tius, where there is a big busi­ness com­mu­nity. The group re­cently re­ported a 5% in­crease in rev­enue to R791.3m in the six months to end De­cem­ber.

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