Integrated Report 2020
This Integrated Report (IR) of the City Lodge Hotel Group (CLHG or the group) represents the concerted effort by the group to offer its stakeholders a clear and comprehensive account of the actions, decisions, strategy, operations and performance of City Lodge Hotel Group for the period 1 July 2019 to 30 June 2020. It also provides insights into the plans and strategic direction of our group for the coming financial year and into the foreseeable future.
In keeping with our commitment to full transparency and honest communication with all its stakeholders, this report is guided and informed by the following global best practice standards and guidelines in terms of integrated and financial reporting:
This is the 10th consecutive year in which the group has published an IR. Despite our ongoing efforts to align our report with the very best in international IR reporting standards, we acknowledge that the dynamic business environment and constantly evolving IR principles mean that integrated reporting will always be a work in progress, or an ongoing journey, rather than a destination.
That said, this report represents our concerted effort to further refine our reporting and build on the solid IR foundations we have established over the past decade. To this end, the content of this IR has been developed in consultation with all our stakeholders, as well as with the extensive inputs of various reporting experts.
In keeping with the format of last year's report, this IR delivers a view of the year under review according to the six capitals that our group leverages to deliver value to its stakeholders. We believe this approach not only ensures our compliance with the latest IR standards, but also makes for a more user-friendly document.
We are committed to improving this IR and value any feedback and suggestions from its readers. Please email your comments or suggestions to Dhanisha Nathoo at DNathoo@clhg.com.
City Lodge Hotel Group's IR is compiled annually and released at least 15 business days prior to its annual general meeting (AGM). This report covers the financial year from 1 July 2019 to 30 June 2020. The previous IR was published in 2019 and covered the period 1 July 2018 to 30 June 2019. There are no restatements from the prior year.
This 2020 report covers all of the group's operations across its 62 hotels situated in South Africa, Botswana, Kenya, Namibia, Tanzania and Mozambique. These hotels fall under five hotel brands, namely Fairview Hotel, Courtyard Hotel, City Lodge Hotel, Town Lodge and Road Lodge. Three of the five Courtyard Hotels are fully owned by the group and the other two are proportionally consolidated.
While this report contains information that will be of value to all City Lodge Hotel Group's stakeholders, it is primarily aimed at supporting the financial capital allocation assessments of financial capital providers. It includes the consolidated and separate annual financial statements of the group.
Based on the recommendations of the external auditors, KPMG Inc., the group's audit committee provides assurance on the annual financial statements.
The board acknowledges its responsibility to ensure the integrity of the IR and has applied its mind as such. As a board, we believe that it addresses all material issues honestly, and presents the integrated performance of the organisation and its impacts in line with the principles set out in the IIRF.
The IR has been prepared in line with best practice and the recommendations of King IV™.
It was approved by the board on 12 November 2020 and is signed on its behalf by:
A C Widegger
Chief executive officer
B T Ngcuka
Non-executive chairman
Certain information contained in this report may constitute 'forward looking statements'. These may involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the group and its subsidiaries to be materially different from the future results, performance or achievements stated or implied.
The group has no obligation to publicly update 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 also not been reviewed or reported on by the group's auditors.
Further reading is available elsewhere in this report
More information is available
on the website www.clhg.com.
Please refer to the Annual Financial
Statements within this report
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