- Entertainment Holdings and HSS Investments increase stake in City Lodge Hotels to 10%.
- City Lodge Hotels receives formal notification of the increased collective interest in their securities.
- Speculation arises about potential future developments within City Lodge.
City Lodge Hotels Limited received a formal notification confirming an increase in the collective stake of Entertainment Holdings (Pty) Ltd and HSS Investments Proprietary Limited (“HSS”) to 10.0% of the company’s total securities. This move demonstrates the confidence that these investors have in City Lodge’s future prospects and highlights their belief in the long-term growth potential of the company.
The board of directors of City Lodge has accepted responsibility for the accuracy of this announcement and asserts that, to the best of their knowledge and belief, the information contained herein is true and complete. The board relied on the accuracy of the information provided in the notification received from HSS to make this statement. Furthermore, in accordance with section 122(3)(a) of the Companies Act, City Lodge has filed the required notices with the Takeover Regulation Panel.
City Lodge Hotels Limited is renowned for its diverse portfolio of hotels across South Africa, Botswana, Namibia, Kenya, and Tanzania. The company’s commitment to offering comfortable and affordable accommodation has positioned it as a preferred choice for both leisure and business travelers.
The increased stake by Entertainment Holdings and HSS signifies their continued support for City Lodge’s strategic direction and growth objectives. This additional investment from two reputable stakeholders will empower City Lodge to pursue its expansion plans within the hospitality industry more confidently.
The disclosure of this beneficial interest in securities has also sparked speculation about potential future developments within City Lodge. Changes in significant shareholdings often precede strategic actions such as partnerships, acquisitions, or restructuring initiatives. While the specific intentions of Entertainment Holdings and HSS remain undisclosed, their increased stake highlights their dedication to the success of City Lodge in the long term.