• SA is being scammed!

    Former struggle heroes are now emptying state coffers to benefit foreign scammers, says Solly Moeng.

  • A burning issue

    The Knysna fires have shown that SA needs to be fire-aware and wary, says Mandi Smallhorne.

  • True economic freedom

    Harping on inequality and repressive rich people deflects attention from the real issues, say analysts.

All data is delayed
Loading...
See More

Sun Intl acquires landmark Sandton hotel

Nov 09 2011 09:40
I-Net Bridge

Company Data

SUN INTERNATIONAL LIMITED [JSE:SUI]

Last traded 56
Change -1
% Change -2
Cumulative volume 425919
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Sun International earnings take a dive

Sun Intl, Grand Parade in new deal

Revenue rise for Sun International

Rand eats into Sun International earnings

 
Johannesburg - Hotels and resorts group Sun International [JSE:SUI] has entered into a 20-year lease agreement with the Cavaleros Group for the lease of the Grayston Hotel, a landmark Sandton property. The two companies will contribute equally to a R250m refurbishment of the property.

"This deal will secure Sun International's position in South Africa's premier business node, and will complement the Table Bay Hotel in Cape Town, our other major urban hotel," said Acting Chief Executive Garth Collins.

"It is a prime location given its close proximity to the Johannesburg Stock Exchange, The Sandton Convention Centre, the commercial and retail district and the Gautrain.

"We are not presently represented in Sandton and this venture offers the group relatively short term access to this key market.

"Importantly, the hotel will act as a valuable stop-over point for our inbound visitors who arrive from abroad en route to our properties around the country, especially Sun City, Cape Town and Livingstone. The Grayston is ideally suited to this purpose and provides a good added facility for our foreign guests.

"The hotel is currently in need of a revamp and to this end we will undertake a major refurbishment of its 346-rooms and public areas.

"The hotel will close at the end of November when the current lease expires and the refurbishment will commence in January 2012 with the aim of launching the new hotel as a four star plus under the Sun International brand early in 2013."

The Grayston Hotel has always been a preferred destination for business travellers due to its location, its conference facilities, business service amenities and significant landscaped gardens that surround the hotel.
sun international  |  property

NEXT ON FIN24X

Behind the sparkle

2017-06-06 10:23

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

WhatsApp group admins in SA could face jail time their jobs

Previous results · Suggest a vote

Loading...