City Lodge Hotels
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City Lodge Hotels (CLH) investor relations material

City Lodge Hotels H1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H1 2026 earnings summary19 Feb, 2026

Executive summary

  • Revenue increased by 12% to R1.14 billion, driven by higher occupancy and room rates, with group occupancy rising to 61.6%, up 4.2 percentage points year-over-year and reaching the highest level since pre-COVID-19.

  • Adjusted EBITDAR grew 16% to R371 million, with margin improving to 32.5%.

  • Adjusted headline earnings rose 27% to R139 million, and adjusted diluted headline EPS increased 33%.

  • Cash generated by operations increased 39% to R347 million, supporting share buybacks and refurbishments.

  • Interim dividend declared at 8c per share, up 33% from the prior year.

Financial highlights

  • Profit after tax was R114.6 million, down 5% due to higher tax and unrealised forex losses.

  • Food & beverage revenue up 17% to R233.9 million, contributing 20.5% of total revenue.

  • Operating expenses increased 9%, but cost per room sold rose only 3%.

  • Diluted headline EPS at 21.5c, flat year-over-year.

  • Average room rate rose 4% year-over-year.

Outlook and guidance

  • Positive momentum expected to continue, supported by improved economic conditions and government spending.

  • January and February 2026 saw total revenue up 4-5% and ARR up 9-11%, though occupancy declined.

  • Environmental resilience projects and hotel expansion planned, including a 55-room addition at Waterfall City.

Reconcile flat EPS with 33% Adj HEPS growth
Explain Jan/Feb 2026 occupancy vs revenue trends
Detail portfolio optimization and expansion plans
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H2 202610 Sep, 2026
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