Lonrho – 5.58p

20 March 2013 – hotel opening

Lonrho has announced that it is to open its first ‘easyHotel by Lonrho’ on 26 March in Johannesburg.  This marks the start of the roll-out of easyHotels.com by Lonrho throughout Africa and will be the first of many hotels that offer international standard hotle rooms at a budget price.  Operating in conjunction with easyGroup, the chain should benefit from the recognition of the ‘easy’ brand and this should prove a profitable venture for the group as it expands its interests in Africa.  Despite the poor performance of the shares over recent months we believe that patience will be rewarded and recommend the shares as a BUY.

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