Nasdaq-listed hotel operator Marriott International will be opening two new branded Marriott properties in Johannesburg’s Melrose Arch precinct in February.

David Green is an Independent Non-Executive at Acsion Limited.

Following two years of strong double digit growth, the national 2014 year to date average RevPAR growth as at the end of September 2014 is 8.3% compared to the same period last year.

International hotel groups are turning their attention to sub-Saharan Africa‚ as economic growth boosts business and leisure travel on the continent.

Last year more money about R4,5bn was invested into real estate funds, than into equity R4bn unit trusts, there are now 22 real estate funds for just 19 shares in the sector.

JSE-listed SA Retail Properties, which has a R2,2bn property portfolio, said yesterday that its distributions had increased 13,7% to 37,47c a linked unit for the six months to September.

It's no secret that the Marriott group's 50% shareholder, Grindrod, has been unhappy with the performance of its property arm for some time - indeed, Grindrod CEO Ivan Clark said as much after the most recent results briefing.

Old Mutual Properties has offered to buy the entire business of Durban-based property group Marriott Holdings in a deal that could be worth up to R500m .

Brisk trading at Sanlam Centre has triggered a R50 million value centre development in Kings Road, Pinetown.  The adjacent shopping centres, on opposite sides of Kings Road, will have combined projected retail sales of more than R3 billion a year making them the fifth biggest shopping node in Durban.

The Hyprop share is up 2.3% to R24 buoyed by the booming property market - also the news that more than 60% of Hyprop unit holders are in favour of taking over rival property group SA Retail.