The sale will net R460m, and is earmarked for paying down some of its debt of R720m
City Lodge has finalised the sale of its loss-making East African hotels in a deal that will bring much-needed capital for the group, which is also reporting improved occupancies.
The sale, which was supposed to have been completed by the end of April, will net R460m, and is earmarked for paying down some of its debt of R720m...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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