Hotels and Leisure

Tsogo Sun Chairman, Johnny Copelyn slammed NUM, saying the union had done a similar deal at gaming company Peermont Global, which owns the Emperor’s Palace casino near OR Tambo airport, and other assets.

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

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.

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

The Cape Town International Convention Centre (CTICC) has added R20bn to national GDP in the past nine of its 11-year existence

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

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.

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

The R850m East CTICC expansion will almost double the convention centre’s size, which will attract more international conferences and prestigious events to Cape Town

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 nonexecutive director and former trade unionist Marcel Golding referred questions to nonexecutive chairman Johnny Copelyn. Mr Copelyn could not be reached for comment.

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 CEO, Alan Clark said gaming and hotels are not core to our operations and we have concluded that the time is right for us to exit our investment through a transaction that is beneficial to shareholders of both SABMiller and Tsogo Sun.

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

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.

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

Nikki Forster, PwC Leader of Hospitality and Gaming, says: “Although South Africa’s economy has weakened, growth in international travel and tourism and rising room rates have bolstered the hospitality sector.”

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 Leisure Corporation Chairman, Alan Gooderson said that trading in the first three months of the new financial year had been difficult due to inactivity prior to the general elections.

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

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