Hospitality Property Fund: IAR 2018

Menu

Menu Search

A
n
n
u
a
l
 
R
e
p
o
r
t
 
2
0
1
8

Key highlights

  • Rental income increased to R867 million (2017: R600 million)
  • Average lease expiry of 14.9 years
  • Increased number of properties from 15 hotels in 2016 to 53 hotels in 2018
  • Investment property value increased through acquisitions to R13 billion (2017: R8 billion)
  • Fully subscribed rights offer of R1 billion used to fund acquisitions

Joint Statement from the Chairman
and Chief Executive Officer

"Hospitality has grown the portfolio to 53 hotel properties with a fair market value of R12.6 billion."

"In 2018, we delivered distributable income growth of 66% on the comparable 12-month prior period."

"Our focus on growth continued after year end and, on Monday, 9 July 2018, we announced the proposed acquisition of seven casino precinct properties from Tsogo Sun. As a result, its holding in Hospitality will increase to 87%, with the intention to distribute this holding to its shareholders as soon as is practical."

John Copelyn
Chairman

Keith Randall
Chief Executive Officer






Find out more


Where we operate

9 properties in Western Cape portfolio

13 properties in Gauteng portfolio
12 properties in rest of South Africa portfolio
19 SUN1* hotels in our portfolio

Find out more