Hotels and Leisure
NUM gets upset after Tsogo Sun hand overs R200m loan to directors
The National Union of Mineworkers (NUM) said it was unhappy after the gambling and hotel company, Tsogo Sun, which decided to give R200 million unsecured loan to five of its executives on an interest-free basis. ... Full story
City Lodge full year HEPS seen between 8% and 13% higher
Providing a trading update on Tuesday, Hotel group City Lodge (CLH) says it expects full-year normalised diluted headline earnings per share (HEPS) to be between 8% and 13% higher than in 2013. ... Full story
When bigger is better
Organisers of conventions breathed a sigh of relief in July when the first sod was turned in a project to double the capacity of Cape Town International Convention Centre (CTICC) by 2017. ... Full story
R3 billion Pretoria Casino gets the go-ahead
The gaming and leisure giant, Sun International has received the green light from the National Gambling Board of South Africa to develop a 3 billion rand entertainment complex in the capital Pretoria. ... Full story
Cape Town Convention launches R850m expansion plans
The Cape Town International Convention Centre (CTICC) is set to start a new phase of development with the announcements of construction work on CTICC East, which begins this month with doors due to open to the public early in 2017. ... Full story
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. ... Full story
SABMiller to dispose 40% stake in Tsogo Sun
Beer and soft drinks manufacturer, SABMiller (SAB) elaborated plans to sell its 40% shareholding in the gaming and hotels group, Tsogo Sun (TSH) — a move that may see Hosken Consolidated Investments (HCI) bolstering its stake in Tsogo. ... Full story
Accommodation industry income rose by 12.9% in April
Total income for South Africa’s tourist accommodation industry rose by 12.9% year on year (y/y) in nominal terms (current prices) in April‚ Statistics SA’s tourist accommodation survey released on Monday showed. ... Full story
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. ... Full story
Gooderson posts 6.5% rise in dividends
Gooderson Leisure Corporation, on Thursday last week reported an increase in its dividends for the year to March of 6.5% to 1.875c per share. ... Full story
Realty boom continues in Sandton despite bubble fears
Though growth is slowing down in the office property sector across South Africa, the real estate scene in Sandton CBD and surrounding areas presents a study in contrast. ... Full story