City Lodge Hotels has delivered strong revenue growth of 10% from improved occupancies and achieved room rates, and returned value to shareholders by acquiring and cancelling 6.4% of shares in issue.

The group capitalised on the strong economic trends in South Africa in the first half of the financial year and achieved the highest occupancy for nearly a decade. In response to a tougher economic operating environment in the second half of the financial year, the group has responded pro-actively through enhanced dynamic rate management and cost control initiatives.

Read the full article in The Business of Money here.