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Johannesburg - Tsogo Sun [JSE:TSH] announced that it will be rebranding the Hotel Formula1 chain of budget hotels under its own brand, to be known as SUN1.
This announcement follows the acquisition of the remaining 53% share of Hotel Formula1 from Accor in April 2012 by Tsogo Sun.
“Post the acquisition we have evaluated the value of the brand in the budget sector of the market and concluded that a refresh under our brand was required," said CEO of Tsogo Sun Marcel von Aulock.
"Last year, we consolidated the group’s brands into one holistic identity under the sunburst."
In addition to changing the signage and livery of the hotel brand, Tsogo Sun will be investing over R135m over the next three years to upgrade and refresh the SUN1 offering.
According to Keith Randall, managing director - Hotel SUN1, this forms part of the group’s strategy of investing in its business.
There are currently 21 SUN1 hotels offering a total of 1 530 rooms spread across the major metropolitan areas of South Africa.
SUN1 is represented in seven provinces and is aimed at both business and leisure travellers in the budget sector, offering the most convenient locations. Room rates range from R419 to a maximum of R449 and can accommodate up to three people.
“The budget sector is one of the fastest growing in the world and it is our intention to grow our portfolio of hotels in this sector. We believe that, under the SUN1 brand, we are perfectly positioned to actively pursue new properties,” concluded Von Aulock.
- Fin24
This announcement follows the acquisition of the remaining 53% share of Hotel Formula1 from Accor in April 2012 by Tsogo Sun.
“Post the acquisition we have evaluated the value of the brand in the budget sector of the market and concluded that a refresh under our brand was required," said CEO of Tsogo Sun Marcel von Aulock.
"Last year, we consolidated the group’s brands into one holistic identity under the sunburst."
In addition to changing the signage and livery of the hotel brand, Tsogo Sun will be investing over R135m over the next three years to upgrade and refresh the SUN1 offering.
According to Keith Randall, managing director - Hotel SUN1, this forms part of the group’s strategy of investing in its business.
There are currently 21 SUN1 hotels offering a total of 1 530 rooms spread across the major metropolitan areas of South Africa.
SUN1 is represented in seven provinces and is aimed at both business and leisure travellers in the budget sector, offering the most convenient locations. Room rates range from R419 to a maximum of R449 and can accommodate up to three people.
“The budget sector is one of the fastest growing in the world and it is our intention to grow our portfolio of hotels in this sector. We believe that, under the SUN1 brand, we are perfectly positioned to actively pursue new properties,” concluded Von Aulock.
- Fin24
