Hyprop plans to build a R180 million four-star hotel at Hyde Park shopping centre as part of its asset enhancing strategy, the the JSE-listed retail property fund said on Monday.

The 132-rooms and three-storey hotel will be developed together with Southern Sun, which will later manage it on opening, anticipated in June next year.

"The new hotel together with developments at our shopping centres is expected to help drive further growth in a tightening market," said Pieter Prinsloo, Hyprop chief execuive.

Source: I-Net Bridge