Tsogo Sun eyes distressed hotels
Looking at a number of distressed hotel assets having already acted with The Grace, also investing in Suncoast casino Durban and "tweaks" at Silverstar
View ArticleSun International - Investors seem content
The sudden resignation of a CEO would normally rattle investors. But judging by the fairly stable share price last week, Sun International shareholders don’t seem overly worried.
View ArticleToo much room at the inn
The struggle to fill hotel beds continues, and has forced more SA hospitality players to put up the “for sale” boards.
View ArticleHospitality warns of earnings drop
Hotel-focused property loan stock company Hospitality Property Fund, reeling because of an embattled hotel market, warned yesterday that distributable earnings per combined A and B unit for the six...
View ArticleGrand Parade restructure finally unconditional
Grand Parade Investments (GPI, GPL) said on Monday that the conditions of its restructure, announced in May, had been fulfilled, with the deal becoming unconditional.
View ArticleHuge value writedown-Quantum's lemon
Property group Quantum has written down the value of its sole asset, the 15 On Orange hotel and leisure development in Cape Town, by a hefty R225m.
View ArticleSun City resort to invest $800m in Sri Lanka
South Africa’s Sun City resort will invest $800 million in a tourism project in Sri Lanka, the head of the island nation’s state-run Tourism Board said on Friday.
View ArticleAbsa sues Nedbank over Pinnacle Point losses
Absa turns to court to recover R773m from Nedbank for losses relating to an exposure to Pinnacle Point, but the latter says it will defend the action.
View ArticleInvestors stay away from hospitality industry
The hospitality industry is in such a troubled state that it’s no surprise that investors have stayed away from the sector.
View ArticleSA tourism accommodation income up
Income from tourism accommodation rose by 13.9% year on year (y/y) to R1.2 billion according to data published by Statistics SA (Stats SA) on Monday.
View ArticleGolf estates deal recipe for disaster
The merger between golf estate and leisure property groups Pinnacle Point and Acc-Ross was a recipe for disaster, Pinnacle Point minority shareholder Sybrand van der Spuy told a commission of inquiry...
View ArticleThe outlook for 5-Star hotel market in SA is looking brighter
Is Cape Town over its World Cup ‘hangover’ and are 5-Star Hotels heading in a positive direction?
View ArticleSun earnings expected to be up 100%-110%
Sun says its basic and headline earnings per share for the 6 months ended December 2011 are expected to be between 100% and 110% higher than the 156c and 157c previously.
View ArticleCity Lodge lifts normalized headline earnings by 10% to 223.8c
Despite tough trading conditions, City Lodge Hotels Limited lifted normalised headline earnings by 10% to R96.6 million in the six months to December 31, 2011, on the back of revenue rising by 9% to...
View ArticleAccommodation industry income up 13.8%
Total income for the accommodation industry for the fourth quarter of 2011 increased by 13.8% compared with the fourth quarter of 2010, figures released on Monday by Statistics South Africa showed.
View ArticleSA’s hotel industry finally seeing some positive signs
Hotels in SA are showing signs of recovery, with occupancies across the sector up more than 10% in January compared with the same month a year earlier, with strong rebounds in the five-star segments...
View ArticleSignature Life Hotels offers to sale stake in three of its prime resorts
Signature Life Hotels signals it confidence in a resurgent hospitality industry by releasing rooms, villas and stands at three prime resorts for sale.
View ArticleCape Town hotels show strong summer growth
Cape Town-based hotels have had a bumper summer season with the Pepper Club Hotel, for instance, showing a 21% year-on-year (y/y) gain in December 2011 occupancy rates, while January 2012 shot the...
View ArticleJanuary total accommodation indicate income up 16.6%
Total income for the accommodation industry increased by 16.6% year on year in January to R1.911 billion, data from Statistics SA on Monday showed.
View ArticleNedbank acts as joint funder of Tsogo Sun loan
Nedbank Corporate Banking has acted as joint funder of a further R500 million syndicated loan to Tsogo Sun - bringing the total facility to just over R7 billion.
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