FED loses “patience”

FOMC – The Fed has dropped the word “patient” from its discourse. It looks like the market was largely expecting it and we had a significant jump in the US on the annoucement.

In Yellen’s speech she highlighted the fact that while the Fed has dropped the word “patient” she stressed this does not mean the Fed will be “impatient”.

The Fed is widely expected to raise rates in its June meeting, but the decision will remain data dependant.

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Stock Focus: City Lodge (CLH)

The City Lodge Hotel Group (CLH) is a multi-brand chain offering a variety of locations, features and budget choices to business and leisure travellers.

City Lodge has 54 hotels in sub-Saharan Africa and has just begun expanding into Africa. All the hotels are managed under the City Lodge brand, which is divided into (in descending order of luxury): Fairview, Courtyard Hotel, City Lodge Hotel, Town Lodge and Road Lodge.

The group has won numerous awards including: Four Trip Advisor 2014 certificates of excellence, Bets one and two star hotels in 2013 National Lilizela Accommodation Awards, Awards for energy efficiency and more.

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Stock Focus: Tsogo Sun (TSH)

Tsogo Sun is Southern Africa’s premier gaming, hotel and entertainment group, listed on the JSE.

Its key shareholders are Hosken Consolidated Investments Limited , a JSE listed investment holding company (47.6%); SABMiller plc, the London listed brewing company (39.7%); financial institutions and the general public (19%).

Gaming properties include: Monte Casino, , Gold Reef City, Silver Star, Mykonos, The Caledon, Sun Coast, Black Rock.

Hotels include: Palazzo, Sandton Sun, Sun Coast Towers, Sun Square, Sun1 (Budget)

Just under 80% of revenue and Ebitdar comes from gaming.

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