About this report
This integrated report (IR) of the City Lodge Hotel Group (CLHG or the group) represents a concerted effort to offer the group's stakeholders a clear and comprehensive account of the actions, decisions, strategy, operations, and performance of the group for the period 1 July 2020 to 30 June 2021. It also provides insights into the plans and strategic direction of CLHG for the coming financial year and the foreseeable future.
In line with our commitment to full transparency and honest communication with all our stakeholders, this report is guided and informed by the following global best practice standards and guidelines:
- International Integrated Reporting Council's (IIRC) International <IR> Framework
- Companies Act, 71 of 2008, as amended (Companies Act)
- Johannesburg Stock Exchange (JSE) Listings Requirements
- The King IV Report on Corporate Governance, 2016 (King IVTM*)
- International Financial Reporting Standards (IFRS)
- SAICA Financial Reporting Guides
- Financial Reporting Pronouncements
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Navigating this report
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Forward looking statements
This is the 11th consecutive year that the group has published an IR. Despite ongoing efforts to align our report with the highest 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, an ongoing journey rather than a destination.
This report further refines our reporting, building on the solid IR foundations we have laid over the past decade. This IR's content has, therefore, been developed in consultation with all our stakeholders, supported by input from reporting specialists.
Following 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.
SCOPE AND BOUNDARY
The group's IR is compiled annually and released at least 15 business days before its annual general meeting (AGM). No restatements from the prior year were necessary.
This 2021 report covers the full operations of the group. The group's 63 hotels, situated across southern and eastern Africa, include five hotel brands: Fairview Hotel, Courtyard Hotel, City Lodge Hotel, Town Lodge and Road Lodge. Although we are divesting from Kenya and Tanzania post year-end, we continue to report on their FY2021 performance in the group results.
The information in this report will be of value to all CLHG stakeholders, although it is primarily aimed at supporting the financial capital allocation assessments of ﬁnancial capital providers. The group's consolidated and separate annual financial statements form part of the report.
STATEMENT BY THE BOARD OF DIRECTORS
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 International <IR> Framework.
The IR has been prepared in line with best practice and the recommendations of King IVTM.
It was approved by the board on 28 October 2021 and is signed on its behalf by:
Chief executive officer
It should be noted some photographs were taken prior to 2020 and therefore will not comply with Covid-19 health and safety regulatory precautions and social distance measures.