Hospitality beefs up management

Posted On Monday, 05 February 2007 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

Hotel-focused listed property loan stock company Hospitality Property Fund has beefed up its executive management team with the appointment of a chief operating officer.

Gerald NelsonHospitality, which listed on the JSE in February last year, said last week it had appointed Andrew Rogers as an executive director and chief operating officer of Hospitality Property Fund Managers, the asset and fund manager of listed Hospitality.

Hospitality said Rogers had more than 14 years’ experience in the tourism and hospitality industry and had until recently been an operations director at Southern Sun.

The company said that Rogers had previously been associated with the City Lodge and Cullinan Hotel groups. In October last year the company announced that Bruce Hutchison had resigned as CEO for “personal health reasons”.

Non executive directors Gerald Nelson and Youseph Aminzadeh, who have both been involved in the fund since its inception, have since taken on the roles of CEO and deputy CEO respectively.

At the time the company said it would also be expanding the management team by appointing a chief operating officer. Ridwaan Asmal is the company’s financial director.

Nelson said on Friday that Rogers’ position would strengthen the management team on the “hotel operations side”. He said that Hospitality, which has a market capitalisation of about R1,1bn and property assets worth R1,2bn, was operating in an industry that was “fairly buoyant at the moment”. Nelson said that Hospitality believed it could “realistically” grow its property asset base to R3bn- R4bn over the next two years. But he said the hotel property market was “expensive” and that there were limited numbers of sellers.

Last modified on Saturday, 26 April 2014 13:35

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Buying an investment property is great, especially when you’ve chosen a good location.…

Money laundering risks on the rise in real estate

May 05, 2022
James George
Property practitioners in South Africa have been identified as potentially vulnerable to…

Fairvest to list on A2X

May 04, 2022
Fairvest Limited has been approved for a secondary listing on A2X Markets and will be…

Dipula reports solid interim results; all conditions precedent for the repurchase of Dipula A-shares fulfilled

May 05, 2022
Izak Petersen
South-African focused JSE-listed diversified REIT, Dipula Income Fund, today announced…

Please publish modules in offcanvas position.