- July 10, 2012
- Posted by: admin
- Category: Tsogo Sun Holdings
Continent’s biggest hotel and casino group opens 54 on Bath in Johannesburg, the former Grace Hotel bought in October last year
TSOGO Sun, Africa’s biggest hotel and casino operator, on Tuesday announced the opening of 54 on Bath, its new boutique hotel in Rosebank, Johannesburg.
In October last year, JSE-listed Tsogo Sun established itself in Rosebank when it bought the Grace Hotel and office buildings for R85m.
Although the local hotel industry has been hard hit by a combination of overcapacity and a drop in demand from travellers, Tsogo Sun in May reported a 39% rise in revenue to R9bn for the year to the end of March.
It owns 14 casinos and more than 90 hotels in South Africa, the Seychelles and elsewhere in Africa.
MD Graham Wood said the company was excited about its “unique” new offering, which has 60 deluxe and 12 executive rooms.
“54 on Bath promises a distinctive guest experience with exceptional attention to detail in an intimate, vibrant and energetic environment — an offering that assures that the diverse needs of the discerning business and leisure traveller will be fulfilled,” he said.
Mr Wood said that, as a Tsogo Sun hotel, 54 on Bath will benefit from the group’s investment strategy and remain innovative and unique in years to come.
The company’s main shareholders are Hosken Consolidated Investments , an investment holding company, and brewer SABMiller . The remaining shares are held by financial institutions and members of the public.
Source: Business Day – Z.Moorad