Hospitality turns around under the management of CEO Vincent Joyner and is set to compete with other mid-cap property companies on the JSE, following an investment from Tsogo Sun.

The takeover of hotel-focused property fund Hospitality by Southern Sun Hotels has been approved by SA’s competition authorities‚ with conditions.

Hospitality Property Fund Limited, the JSE-listed Real Estate Investment Trust (“REIT”) today announced that it has signed an agreement to acquire 10 hotel properties, valued at almost R1.8 billion, from Southern Sun Hotels Proprietary Limited, a wholly owned subsidiary of Tsogo Sun Holdings Limited.

Sol Kerzner is not retiring, even though the 78-year-old hotel magnate has sold out of the group that made him a global powerhouse and spawned some of the world's best-recognised hospitality brands.

In line with its growth strategy‚ Tsogo Sun has announced an investment of R900 million towards the group’s hotel expansion in Africa.

An established guesthouse in the heart of Bryanston is set to fall under the Auction Alliance gavel on August 18.

Thursday, 08 April 2010 02:00

Listed Fund selling sought after assets

On 21 April 2010, at The Southern Sun Hotel in Grayston, Sandton, a listed fund will be monetising some of their most sought after assets in the Limpopo Province and Rosslyn

Wednesday, 07 April 2010 02:00

Luxury reserve for sale

The Etosha Game Farm in the Limpopo province, just outside Bela Bela, will soon have a new owner at the fall of the hammer in two weeks.

Friday, 27 March 2009 02:00

Hotel has accommodation, retail centre

Alliance Group will auction the Mahem Hotel and adjacent convenience centre, at 495 Richards Bay Avenue, Kirkney, Pretoria, next month.

Reflecting the defensive quality of its shopping centre assets in a depressed economy, JSE retail property fund Hyprop Investments posted a 15,4% increase in distributions to 150 cents for the six months to June 2008

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