Company Data
| Last traded |
R58.45 |
| Change |
R0.25 |
| % Change |
0.43% |
| Cumulative volume |
287,775 |
| Market cap |
R14.21bn |
Related Articles
Top Stories
May 27 2012 11:21
There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.
May 27 2012 11:49
The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.
May 27 2012 13:09
The oversupply of golf estates has claimed another victim.
Johannesburg - The well-known Grace Hotel in Rosebank has been obliged to close its doors provisionally after being badly impacted by the downturn in the South African hotel market.
Pieter Prinsloo, chief executive of listed property giant Hyprop which owns the building, said the hotel has been hard hit by a decline in foreign and local visitors, as well as a contraction in the corporate travel industry.
He said because of financial losses, Hyprop has no option but to cancel its lease with African Sun Hotels and close the hotel on August 31.
He said the Johannesburg hotel industry in particular remains under pressure and, with low room tariffs, rising operating costs and an oversupply of rooms, the hotel has been unable to keep its head above water in the downswing in the hospitality sector.
He said Hyprop is however keeping its options open and having discussions with other major hotel managers who might be interested in taking over management of the hotel.
– Sake24
For business news in Afrikaans, go to Sake24.com.