Hospitality Property Fund expecting interim profits

Hospitality Property Fund's portfolio of interests in 27 hotel and resort properties in South Africa had a book value of R4.56 billion as at 30 June 2013.

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.

The expected increase was as a result of better than forecast hotel trading conditions‚ the company said.

The A-linked unit distribution for the six months ended December 31 2013 would remain in line with the forecast of 69‚83c per linked unit‚ a growth of 5% from the a year earlier.

The Fund’s portfolio of interests in 27 hotel and resort properties in South Africa had a book value of R4.56 billion as at 30 June 2013.

The top seven flagship properties of the fund are the Westin Cape Town linked to the Cape Town International Convention Centre; Radisson Blu Waterfront in Granger Bay in Cape Town; Crowne Plaza Johannesburg in Rosebank; Holiday Inn Sandton on Rivonia Road; Mount Grace Country Hotel in Magaliesburg; Champagne Sports Resort in the Drakensberg; and the Arabella Hotel & Spa near Hermanus.