South Africa
  • Gauteng (Johannesburg & Surrounds)
  • KwaZulu-Natal (Durban)
  • Western Cape (Cape Town)
  • Eastern Cape
  • Mpumalanga
  • North West
  • Free State
  • Northern Cape
  • Limpopo
Rest of Africa
  • Nigeria
  • Mozambique
  • Kenya
  • Zambia
  • Tanzania
Middle East &
Indian Ocean
  • Seychelles
  • United Arab Emirates

Raddison Blu

History

The only specialised REIT investing solely in the hospitality and leisure sectors

2006

Hospitality lists on the main board of the JSE with 16 hotel properties.

Its capital structure comprises A and B linked units, which can only be issued in the ratio of 1:1.

In terms of its distribution policy, Hospitality distributes 99.99% of its net income. Distribution on the A linked units grow at 5% per annum for the first six years. After year 6, the distribution on the A linked units grow at the lesser of 5% per annum or CPIX. Hospitality’s B linked units receive the residual net income after settlement of the A linked unit distribution entitlement.

Hospitality acquires Protea Hotel Victoria Junction for R105million.

2007

Hospitality acquires The Richards Hotel, The Bayshore Hotel and Protea Hotel Imperial for a total consideration of R97.7million.

During the same year, the Fund acquires The Hazyview Hotel, Hluhluwe Hotel & Safaris, the remaining 35% share in the originally acquired 90 sectional title units at the Radisson Hotel Waterfront in Cape Town, the remaining 32% share in the Park Inn Greenmarket Square in Cape Town and a newly developed extension to the Birchwood Executive Hotel & Conference Centre, comprising 120 new hotel rooms and approximately 10,000m² of conference space for a total purchase consideration of R235.1million.

2008

Hospitality acquires Holiday Inn Sandton for a R400million.

2010

Hospitality acquires Protea Hotel The Edward for a total purchase consideration of R110.4million.

2011

Acquisition of The Westin Cape Town, Arabella Hotel and Spa (“AHS”) and 460 hectares of undeveloped land adjoining AHS (“Phase 2 land”) for a total purchase consideration of R756million.

2013

Acquisition of the Radisson Blu Gautrain Hotel for a total purchase consideration of R443million.

2015

Approval from the Western Cape Local Government to development Arabella Phase 2 land, which includes 352 residential erven, a Private Nature Reserve and a 9-hole executive mashie golf course with associated infrastructure.

2016

The acquisition and integration of 10 hotel properties (effective 1 September 2016), through the issue of Hospitality shares to the Tsogo Sun Group, resulting in Tsogo Sun becoming Hospitality’s majority shareholder with 50.6% interest.

The restructure of the Company’s dual-share capital structure to a single-class capital structure, effective 11 October 2016, brought about the alignment of shareholder objectives. The terms of the restructure awarded one ordinary share for every A share and one ordinary share for every 3.5 B shares held.

2017

The acquisition and integration of a further 29 hotel properties from Tsogo Sun Group, effective 1 July 2017.

The acquisition of sections and exclusive use areas in the Sandton Eye sectional title scheme, of which Radisson Blu Gautrain forms part, together with the acquisition of a real right to extend the existing scheme by some 10,000m².