CONDENSED UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 30 JUNE 2023

Posted 02 October 2023

The Board is pleased to announce the unaudited interim financial results for the company for the six months ended 30 June 2023.

Despite starting the 2023 financial year with a great deal of uncertainty, that was only made worse by the impact of cyclone Freddy in the early months of the year, the business traded very strongly in the first half of the year, registering a healthy occupancy of 51.5% and 45% increase in revenue per available room compared to prior year. Total revenue for the company as at June 2023 amounted to K14.8 billion which was 47% higher than prior year’s first half revenue of K10.0 billion. The corporate segment was the highest contributor with 82% of the rooms nights and continued to be the anchor segment for the business. The segment is expected to remain the key driver for the business in the second half of the year. Efforts to grow other segments

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