Sun International plans to sell a portion of its interests in its African assets to a foreign subsidiary of Thailand-listed Minor International Public Co for R664m.

Sun International says it expects diluted headline earnings per share for the year ended June 2014 to be 5%-10% lower

Redevelopment of the Rosebank Mall in Johannesburg is having a welcome effect on hotels in the area, with foreign business tourists now staying longer, partly to shop at the new high-end stores.

InterContinental says that its profits fell in the first half of the year but the owner of the Holiday Inn chain expresses confidence about the outlook.

Total income for South Africa's tourist accommodation industry rises by 7.6% in May.

HCI will by default bolster its large stake in Tsogo Sun after SABMiller confirmed a decision to disinvest from the gaming and hotels group.

Dubai is planning to build a temperature-controlled city featuring the world's largest mall and an indoor park, as well as hotels, health resorts and theatres.

Total income for South Africa's tourist accommodation industry rises by 12.9% in nominal terms in April, according to Statistics SA's tourist accommodation survey.

Monday, 09 June 2014 15:33

Hotel business booming in Lagos

Tsogo Sun is South Africa's biggest hotel group, but it is its hotel in Lagos, the Southern Sun Ikoyi, that lays claim to the second-highest average room rate in the group, trailing only a boutique hotel in Seychelles.

Tsogo Sun delivers an 18% rise in adjusted headline earnings per share to 176.5c in the year to March‚ boosted by merger activity undertaken as part of its growth strategy.

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