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South Africans are increasingly looking to unwind from the grind with short hotel getaways, with JSE-listed City Lodge flagging the “payday weekend” as a new phenomenon in the hospitality sector.
This new trend, including a black middle class visiting hotels more frequently and a recovery in business travel, helped the hotel group double its full-year profit to R164 million to end-June, while revenue grew 55%.
The company has also benefited from a new tilt into food and beverages, which now accounts for 17% of all revenue, and reported a 79% surge in the year.
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