Reporting principles

The City Lodge Hotel Group is guided by the principles, with regard to our Integrated Report ("IR"), contained in the following:

Integrated reporting

  • IIRC < IR > Framework
  • South African Companies Act
  • JSE Listings Requirements
  • King Report on Corporate Governance 2016 (“King IV™*”)

Financial reporting

  • International Financial Reporting Standards
  • South African Companies Act
  • JSE Listings Requirements
  • SAICA Financial Reporting Guides
  • Financial Reporting Pronouncements


This year, City Lodge Hotels Limited published our eighth IR. Using feedback obtained from our stakeholders, the input of reporting experts and an internal review, we have redesigned our report to report under our capitals to improve the readability of this report, along with additional required disclosure.

We hope that this IR gives you a better understanding of our business. 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


City Lodge Hotels Limited's IR is released at least 15 business days prior to its annual general meeting ("AGM"). This report covers the financial year from 1 July 2017 to 30 June 2018. The previous IR was published in 2017 and covered the period 1 July 2016 to 30 June 2017. The scope of this year's report includes all of our operations in South Africa, Botswana, Kenya and Namibia totalling 59 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 2017 report was made available to shareholders on 11 September 2017.

Included in the report are the group's consolidated and separate 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 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 IV™.

The IR was approved by the board on 15 October 2018 and is signed on its behalf by:

A C WideggerChief executive officer

B T NgcukaNon-executive chairman

* Copyright and trademarks are owned by the Institute of Directors in Southern Africa NPC and all of its rights are reserved.


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.