BRIEF: Tsogo Sun offloads 29 hotels to Hospitality Holdings for ZAR3.5 billion

Petrofac

South Africa’s hotel group, Tsogo Sun Holdings Limited said its shareholders have approved the sale of 29 hotels to Hospitality Property Fund Limited.

The entire 29 hotel portfolio properties and each of the hotel letting businesses conducted in respect of such properties, for an aggregate purchase consideration of R3.5 billion from Southern Sun Hotels Proprietary Limited, a wholly-owned subsidiary of Tsogo Sun.