Sun International FY adjusted HEPS down 7.3%
Sun International says adjusted headline earnings per share fell 7.3% in the year ended June with headline earnings down 24% to R530m.
Hospitality Property Fund's shares decline 3.11%
Hospitality Property Fund's shares decline 3.11% to R4.98 despite beating its forecast distribution growth for the year ended June.
Hospitality Property Fund posts combined distribution growth of 14.5%
Hospitality posts distribution growth of 14.5% for the year to June‚ blasting growth expectations by 4%.
Tourvest's acquisition of Three Cities Management Company approved
The Competition Commission has approved the acquisition of Three Cities Management Company by African Hotels and Adventue (AHA).
City Lodge Hotels sets aside R475m for construction of two new hotels in East Africa
City Lodge Hotels sets aside R475m to build two new hotels in East Africa, and is looking for other opportunities to add hotels in capital cities across East and Southern Africa.
Sun International plans to sell portion of its interests to Minor International for R664m
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 expects diluted HEPS 5%-10% lower
Sun International says it expects diluted headline earnings per share for the year ended June 2014 to be 5%-10% lower
Redevelopment of Rosebank Mall having positive impact on hotels
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 profits fall 30% in six months
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.
Accommodation industry rises by 7.6% in May
Total income for South Africa's tourist accommodation industry rises by 7.6% in May.
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.