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.

JSE-listed Hospitality Property Fund appoints Vincent Joyner as its new CEO and a member of its board with immediate effect.

Monday, 24 August 2015 07:41

Fund battles hotel slump

Takeover target Hospitality Property Fund’s total distribution per linked unit falls 7.7% in the year to June.

Monday, 30 March 2015 13:48

Gerald Nelson

Gerald Nelson is the Chief Executive Officer of Hospitality Property Fund Limited.

Published in Property Leader

Hotel-focused property loan stock company Hospitality Property Fund’s A-linked unit price rallied 6.06% to close at R17.50 after the fund reported it had met its forecasts for the six months ended December, with A-linked unit distribution growth of 5% to 66.51c, and B-linked unit distributions increasing 16.2% to 9.19c.

Rental income for the period increased 8.3% to R174 million, underpinned by improving overall occupancies and average room rates (“ARR’s”) over the bulk of the properties, more particularly in the core metropolitan portfolio.

The bad news for shareholders of Hospitality Property Fund, last week it announced plans for a rights issue to help refinance a R1,35bn debt facility with Absa that expires this month.

Thursday, 18 August 2011 02:00

Weak economy hits Hospitality

Loan stock company Hospitality Property Fund yesterday reported a disappointing set of results for the year ended June, blaming an embattled hotel market, which is reeling from a weak economy

Tuesday, 05 January 2010 02:00

'World Cup to boost hotel profits'

While the short-term outlook for the hospitality industry is challenging, the 2010 Soccer World Cup is expected to provide a much-needed boost to hotel profits.

Friday, 12 December 2008 02:00

A lucrative structure

You’d struggle to find a better emblem of the bubbling conflicts of interest that scar the property industry than the Hospitality Property Fund — symptomatic of a sector where “anything goes” is almost a mission statement.

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