Hotels and Leisure

Sun City boss and bilionnaire real estate tycoon Sol Kerzner quits, but not retire

South African-born hotel ­magnate Sol Kerzner is not retiring, even though the 78-year-old hotel magnate has sold out of the group that made him a global powerhouse and spawned some of the world’s best-recognised hospitality brands. ... Full story

Tsogo Sun intents to acquire properties it manages

Tsogo Sun (TSH) has continued its drive to own the hotels it manages‚ having increased its stake in the bulked-up Cullinan Hotel joint venture with Liberty Group (LBH) for a net cost of R760m. ... Full story

Figures suggest Hotel Industry recovery has legs

Hotel occupancy and room-rates for the majority of the key South African cities have grown during 2013, according to Analysts and CEOs in the sector. ... Full story

Sun International reports half year profits drop

SA’s second-biggest hotels‚ gaming and resorts group, Sun International on Monday reported first-half year profit dropped 21 percent as gambling revenue stagnated and the cost of eliminating jobs rose. ... Full story

Hotel group plans to delist from JSE

Hotel group turned residential letting company, the Don Group on Wednesday said it planned to delist from the Johannesburg Stock Exchange (JSE) after buying out minorities. ... Full story

Hospitality Property Fund expecting interim profits

The Hospitality Property Fund B-linked units’ distribution for the six months ended December 31 2013 are expected to exceed the forecast of 13‚36c per linked unit by 40%-50%‚ the company said in a trading statement on Friday. ... Full story

City Lodge revenue up 9% despite struggles

City Lodge Hotels has reported a 14% rise in normalised diluted headline earnings per share to 330.5c in the six months to December from the same period a year ago. ... Full story

November total accommodation indicate income up 10.5%

Total income for SA’s tourist accommodation industry rose by 10.5% year on year (y/y) in nominal terms (current prices) in November 2013‚ Statistics SA’s tourist accommodation survey released on Monday showed. ... Full story

Hotel Performance in the Cape prompts V&A expansion

Growthpoint Properties and the Public Investment Corp (PIC), the co-owners of the V&A Waterfront in Cape Town, are in discussions with a number of international hotel operators to run what will be the first new hotel to be built at the precinct since Sol Kerzner’s One&Only opened its doors in April 2009. ... Full story

Tourist arrivals to SA increase by 5.1%

Tourist arrivals to South Africa grew by 5.1% during the first six months of 2013 compared to the same period in 2012. ... Full story

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