City Lodge Hotels (CLH) H2 2025 earnings summary

Executive summary

• Revenue increased by 3% year-over-year to R2.0 billion, with profit for the year up 13% to R213 million.

• Group occupancy declined to 56% from 58% in the prior year, while average room rates rose by 7%.

• Food & beverage revenue grew 8% and now represents 20% of total revenue.

• Adjusted EBITDAR was R589 million, with a margin of 29.5%.

Financial highlights

• Revenue: R2.0bn (up 3% year-over-year).

• Profit for the year: R213m (up 13%).

• Adjusted EBITDAR: R589m (up 0.4%).

• Diluted EPS: 38.3c (up 15%).

• Adjusted diluted headline EPS: 34.66c (up 9%).

• Final dividend: 9c; interim: 6c per share.

Outlook and guidance

• FY26 has started positively, with July and August 2025 occupancy at 60% and 59%, respectively, up from prior year.

• Food & beverage revenue for July and August 2025 up 16% and 14% year-over-year.

• Planned FY26 capital commitments of R296.6m for refurbishments, technology, solar, and water initiatives.

• Exploring new hotel opportunities in high-growth South African areas.