Gaming and leisure group Tsogo Sun is set to gain the income benefits of having a portion of its hotel assets in a real estate investment trust structure when it gains control of Hospitality Property Fund.

Thursday, 07 April 2016 12:03

Tsogo Sun in Cape casino owner revamp

Tsogo Sun and Sun International resuscitate plans for a reshuffling of casino ownership in the Western Cape.

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.

Two minority shareholders urge Hospitality Property Fund to sweeten the share swap deal that forms part of its turnaround strategy, saying its failure to do so could jeopardise the company’s future.

The Competition Commission (Commission) has recommended to the Competition Tribunal (Tribunal) that the proposed merger whereby Sun International (South Africa) Limited (SISA) intends to acquire Maxshell 114 Investment (Pty) Ltd (Maxshell) be prohibited.

Proposed merger between Southern Sun Proprietary Limited (SSH) and Majormatic 194 Proprietary Limited (Majormatic).

Monday, 23 November 2015 19:44

Hopes for uptick in spending drive Tsogo Sun

Tsogo Sun is still betting big on a consumer spending upturn, investing R1bn on revamping its properties.

A proposed reshuffle of casino ownership in the Western Cape market, which would have secured gaming and hotel giant Tsogo Sun a hand, is taken off the table.

Hospitality Property Fund provides more details of its plan to do away with its controversial dual unit structure.

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.

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