City Lodge Hotels (CLH) H2 2026 earnings summary

Executive summary

• Revenue increased by 10% year-over-year to R2.2 billion, with group occupancy rising to 58% from 56% in 2025.

• Adjusted EBITDAR grew 15% to R675 million, and cash generated by operations rose 20% to R657 million.

• Adjusted diluted headline earnings per share increased 20% to 41.6c, while profit for the year was R203 million, down 5% from the prior year.

Financial highlights

• Revenue: R2.2bn, up 10% year-over-year (2025: R2.0bn).

• Adjusted EBITDAR: R675m, up 15% (2025: R589m).

• Cash generated by operations: R657m, up 20% (2025: R549m).

• Group occupancy: 58%, up 2 percentage points (2025: 56%).

• Profit for the year: R203m, down 5% (2025: R213m).

Outlook and guidance

• Occupancy for July and August 2026 reached 59% and 62%, respectively, with year-to-date occupancy up 4 percentage points to 65%.

• ARR increased 10% and total revenue grew 10.4% year-to-date up to 9 September 2026.

• Continued focus on disciplined refurbishments and environmental resilience projects.

• Expansion planned in Western Cape and KwaZulu-Natal; 53-room expansion at CL Waterfall City to start September 2026.