Hotels and Leisure

Appetite for hotel development in Sub-Saharan Africa rises

Appetite for hotel development in Africa is increasing with many more businesses setting up offices or doing deals on the continent.

Sun International ‘fares well’ in tough year

Hotel and gaming group Sun International on Monday reported adjusted headline earnings per share (HEPS) fell 7.3% in the year ended June with headline earnings down 24% to R530m.

Tsogo Sun dishes out R200m interest-free loan to executives

An unsecured loan of R200 million has been awarded to five executive directors of Tsogo Sun on an "interest-free basis", with no fixed repayment date.

Hospitality Sector on the rise despite cooling economy — PwC

Despite the cooling off in South Africa’s economy, the hospitality sector is poised for further growth in the next five years in the wake of a number of inbound travellers into the African continent, according to a report issued by PwC today.

International Hotel operators show interest in African business

Sub-Saharan Africa is seeing a surge in hotel investment and development by overseas hotel operators, sighting economic growth which has boosted interest on the continent.

Mangalis Management Group to inject R4.3bn in Africa hotel developments

Mangalis Management Group recently said it plans to invest R4.3bn towards hotel developments in Africa.

Protea Hospitality Group to expand its Hotel in Zambia

In response to the rapidly growing demand for business travel in Zambia‚ Protea Hospitality Group said on Monday it was significantly expanding its Protea Hotel in Lusaka as part of its African expansion drive.

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.

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.

Hospitality Property Fund acquires Radisson Blu Gautrain hotel for R443m

Hotel-focused property loan stock company Hospitality Property Fund said on Wednesday its wholly owned subsidiary HPF Properties or Propco had successfully concluded the acquisition of Radisson Blu Gautrain hotel in Sandton for R443.385 million.

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