The City Lodge Hotel Group is guided by the principles, with regards to our Integrated Report, contained in the following:
In 2017 City Lodge Hotels Limited published our seventh Integrated Report. Using feedback obtained from our stakeholders, the input of reporting experts and an internal review, we have introduced some minor changes to improve the readability of this report, along with some additional disclosure.
We hope that this IR gives you a better understanding of our business and we remain committed to improving on this report and would appreciate your feedback in this regard – any comments can be emailed to Alastair Dooley at email@example.com.
City Lodge Hotels Limited’s IR is released at least 15 business days prior to its AGM. This report covers the financial year from 1 July 2016 to 30 June 2017. The previous IR was published in 2016 and covered the period 1 July 2015 to 30 June 2016. The scope of this year’s report includes all of our operations in South Africa, Kenya and Botswana totalling 57 hotels. This IR provides a general narrative on the performance of the group’s business across our five hotel brands. All City, Town and Road Lodge brands, as well as three Courtyard Hotels and the Fairview Hotel, are wholly owned by the group, while the remaining two Courtyard Hotels are proportionally consolidated.
This report is consistent with the prior year and is compiled annually. There are no restatements from the prior year.
This report has been prepared primarily for the providers of financial capital in order to support their financial capital allocation assessments, although information relevant to other stakeholders has also been included. The 2016 report was made available to shareholders on 19 September 2016.
Included in the report are the group’s consolidated annual financial statements.
On the basis of the recommendations from the auditors KPMG Inc., the audit committee provides assurance on the annual financial statements.
The board acknowledges its responsibility to ensure the integrity of the Integrated Report (“IR”). The board has applied its mind to the IR and believes that it addresses all material issues, presents fairly the integrated performance of the organisation and its impacts in accordance with the principles set out in the International Integrated Reporting Framework.
The IR has been prepared in line with best practice and the recommendations of King III.
The IR was approved by the board on 4 September 2017 and is signed on its behalf by:
C Ross – Chief executive
B T Ngcuka – Chairman
Certain statements in this document may constitute "forward looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of City Lodge Hotels Limited and its subsidiaries to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to reflect events or circumstances after the date of this document, or to reflect the occurrence of anticipated events.
These have not been reviewed or reported on by the group’s auditors.