Our strategy and performance

Our strategy provides a comprehensive and responsive framework to deliver value to our shareholders and stakeholders.

Financial strength and durability

Product relevance

Property portfolio management

Business intelligence

Organic growth


Chairman and Chief Executive Officer's report

B-BBEE rating retained

Water resilience project successfully completed

Robert Nicolella, CEO

John Copelyn, Chairman

Chief Financial Officer's overview

at 16% for the year ended 31 March 2019

Weighted average cost of net debt reduced to 9.6% (2018: 10.3%)

Mara de Lima,
Previous Chief Financial Officer

Riaan Erasmus
Chief Financial Officer

Why invest in Hospitality

Unique REIT

Hospitality is a specialised REIT listed on the JSE, investing in the hospitality industry. With an uncomplicated operating structure and a focus on sound corporate governance, we provide investors with exposure to rental income streams from the hospitality sector.

A diverse

Our well-diversified portfolio of 53 properties across multiple geographic locations and classes of hotels ensures we are able to service a wide range of guests with more than 9 000 rooms in South Africa.


The Fund's low gearing provides us with headroom to grow our portfolio by investing to improve the quality of our existing properties and acquiring well-located, value-enhancing hotels in major urban centres with strong brands and diverse source markets.


With distributable earnings of 105.39 cents per share, and a net asset value of R17.77 per share, we continue to deliver tangible returns to our investors, even in a challenging economic climate.

Key highlights

Revenue for the year ended 31 March 2019 at R828 million (2018: R867 million)

Average lease expiry of 14.5 years (2018: 14.9 years)

Loan to value ('LTV') for the year ended 31 March 2019 at 16.3% (2018: 15.3%)

Where we operate

  • properties Western Cape portfolio

  • properties Gauteng portfolio

  • properties Rest of South Africa

  • Sun1 hotels in our portfolio