Hotels and Leisure

S.Africa’s Hospitality sector poised for Strong Performance

Auditing firm PwC on Thursday projected total room revenue in SA to grow at a compound annual rate of 9.2% to 2017 after overall spending on rooms in all categories rose by 13.4% in 2012 to R15.2bn‚ reflecting an increase in stay unit nights and a 5.3% rise in the average room rate. ... Full story

Hotel Owners Scramble for Business Opportunities in Africa

Hotel Owners are looking to increase their investments in Africa, as the race for the continent’s promising long-term growth prospects intensify. ... Full story

Gooderson earnings up activity in leisure property sector picks up

Listed hotel and resort group Gooderson Leisure Corporation’s (GDN) on Firday 31st announced its group revenue was marginally up at R110.6m from R108.3m and earnings before interest‚ taxes‚ depreciation and amortisation was 5.8% lower at R13.6m from R14.4m. ... Full story

IFA Hotels and Resorts receives takeover offer from Kuwait’s KSCC

IFA Hotels & Resorts (IFH) on Wednesday said it had received a firm intention from Kuwait-based KSCC‚ a public property investment company‚ to acquire all the issued ordinary shares in the capital of IFA‚ save for the IFA shares held by IFA KSCC. ... Full story

SA’s hotel Industry in need of drastic boost

SA’s hotel industry is emerging from a difficult period characterised by a combination of oversupply and lower demand. ... Full story

S.Africa’s tourist accommodation industry income up 15.9%

Total income for SA’s tourist accommodation industry rose by 15.9% year on year in March‚ Statistics SA’s (Stats SA) tourist accommodation survey released on Monday showed. ... Full story

Redefine Hotels and BDL Management Merge

Redefine Hotels and BDL Management on Thursday 16 May announced a merger to create Redefine BDL Hotels, in what is claimed will be Uk’s Largest Independent Hotel’s Management Company. ... Full story

REITs structure to stimulate Hotel Investments

The newly launched real estate investment trusts (Reits) structure in South Africa and the mobilisation of sovereign wealth funds for investment in Africa are likely to stimulate hotel investments on the continent, the Hotels Investment Conference Africa heard last week. ... Full story

SA tourism marketing efforts reaches 1bn consumers

Tourism Minister Marthinus van Schalkwyk has announced that through South Africa’s marketing efforts in tourism they have reached over one billion consumers. ... Full story

New hotel in Margate KZN targets summer 2013 opening

November 1, 2013 will see the opening of BON Hotel Margate, a six-story, 60-room, full-service hotel on Margate’s main thoroughfare overlooking the blue flag beaches. ... Full story

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