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Tsogo Sun's Cape Town hotel development nears completion

Mar 03 2017 17:16

Tsogo Sun’s new hotel development on the corner of Bree, Buitengracht and Strand streets in Cape Town. (Supplied)

Company Data

TSOGO SUN HOLDINGS LIMITED [JSE:TSH]

Last traded 20
Change 0
% Change 0
Cumulative volume 943717
Market cap 0

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

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Cape Town - Tsogo Sun’s new dual-brand 19-storey hotel development on the corner of Bree, Buitengracht and Strand streets in Cape Town is entering the final stages of development, with construction expected to be completed by September 2017.

Constructed at a cost of R700m, the two hotels will add 504 rooms to the Cape Town tourism market. The development – which consists of the SunSquare Cape Town City Bowl and the StayEasy Cape Town City Bowl – is aimed at expanding Tsogo Sun’s offering to provide for both business and leisure travellers of all budgets.

Tsogo Sun [JSE:TSH] currently operates three full service hotels in Cape Town’s CBD, namely Southern Sun The Cullinan, Southern Sun Waterfront and Southern Sun Cape Sun, as well as the Garden Court Nelson Mandela Boulevard and SunSquare Cape Town Gardens.

This development represents Tsogo Sun’s continued commitment to the city of Cape Town and brings its total number of bedrooms operated in the Cape Town city centre to over 2 000. In addition the Tsogo Sun Group owns the Westin at the CTICC, Radisson Waterfront and Protea Victoria Junction hotels through its controlling investment in the Hospitality Property Fund.

“We’re delighted to have the opportunity to increase our presence in one of the most vibrant cities on the continent. We believe the continued development and rejuvenation of Cape Town’s city centre will cater to growing demand for hotel accommodation,” said Marcel von Aulock, Tsogo Sun’s CEO.

“Positioning these two strong Tsogo Sun brands in the Cape Town CBD expands the group’s mid-market offering in one of the fastest growing segments of the hotel industry. These properties, designed with style and functionality, represent the next generation of room design in this category for Tsogo and offer superb accommodation, great location and affordable pricing.”

The development consists of a 202-bedroom SunSquare Cape Town City Bowl hotel with five conference venues, the largest of which caterers for up to 140 delegates; Tsogo Sun’s trendy and fast growing Vigour & Verve casual dining offering; a rooftop pool and bar with panoramic views; retail space; a fitness centre; and a StayEasy Cape Town City Bowl hotel, offering 302 bedrooms with a dedicated breakfast restaurant and access to all the facilities on complex. The project also includes ample undercover parking for 300 vehicles.

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