Deals

R800 million, Sole Debt Funder to City Lodge Hotels Limited

South Africa

Dec 01, 2017

Standard Bank was appointed as the Sole Debt Funder to refinance the original Black Economic Empowerment (BEE) transaction for R800 million which it structured and implemented in 2008. The refinance transaction allows City Lodge to continue to transform the group in line with both the Broad-Based Black Economic Empowerment Codes of Good Practice and Tourism Sector Codes. 

The City Lodge Hotel Limited group owns and operates hotels in a variety of locations, offering features and budget choices to business and leisure travellers in sub-Saharan Africa.

The Group operates the following five brands: Courtyard Hotels, City Lodge Hotels, Town Lodges, Road Lodges and the Fairview Hotel. 

City Lodge has 7 072 rooms and ranks amongst the 200 largest hotel chains in the world. 

The proven expertise of our product teams and sector specialists ensures that this solution was fit-for-purpose and appropriate for City Lodge’s needs.

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