"Hotels operator City Lodge has reported a double-digit climb in profits despite a dip in occupancies in its year to end June. The owner of the Courtyard Hotel and Town Lodge said while geopolitics and SA's political uncertainty weighed on activity, it has managed to contain its costs and has seen much better activity of late.

"City Lodge said on Thursday that revenue climbed 3% to R2 billion for its year to end June, when occupancies fell from 58% to 56%. Profit climbed 13% to R213 million, helped by only a 4% rise in operating costs, while average room rates increased 7%.

"CEO Andrew Widegger told News24 that the year had started off well, with euphoria around the government of national unity (GNU), but, ultimately uncertainty over the national budget and threats of a trade war prompted many corporates to adopt a wait-and-see attitude."

Read the full article here: https://www.news24.com/business/companies/city-lodge-upbeat-as-occupancy-hits-from-us-tariffs-and-gnu-jitters-ease-20250911-0947