'The bulk of these transactions are joint ventures with both local and overseas investors,' says MD Joop Demes. 'In many cases the investment is boosted by funds for redevelopment and expansion of facilities, which in turn helps create jobs.'

Blue Mountain Lodge and Tulani Safari Lodge in Mpumalanga were sold to the CEO of a large American-based conglomerate. In Western Cape, Atlantic Beach Golf Estate was sold to a consortium of local and foreign investors and De Oudekraal Hotel to a UK-based hotel company.

Redbourne Lodge, a country hotel in Plettenberg Bay, went to a German buyer. Also sold were:

More than 25000ha, ideal for game farming, near Barrydale on the Garden Route, in a joint venture between Nedcor and the Mantis Collection Group, owners of Shamwari Game Reserve and Steenberg Country Hotel.

The four-star Protea Hotel Kruger Gate, in a joint venture between Protea and a UK-led investment consortium.

Demes says that since October last year the hospitality and leisure industry has experienced a dramatic increase in foreign visitors. 'At recent international hotel conventions, the common thread was renewed and massive interest in the SA market from foreign tour operators and travel agents both from a safe haven' and value for money point of view.'

'An interesting new trend is the interest being shown by private entrepreneurs and business people in smaller operations, such as guest houses and country hotels, mainly in the well-established high-tourism areas of the Western Cape and Mpumalanga.'

Business Day