You'd struggle to find a better emblem of the bubbling conflicts of interest that scar the property industry than the Hospitality Property Fund - symptomatic of a sector where "anything goes" is almost a mission statement. You'd struggle to find a better emblem of the bubbling conflicts of interest that scar the property industry than the Hospitality Property Fund - symptomatic of a sector where "anything goes" is almost a mission statement. It might have come late to the orgy, but Hospitality clearly intends making up for lost time. It was created in 2005 as the brainchild of Grapnel - in which CEO Gerald Nelson holds 42% - and Hotel Tourism & Leisure (HTL) Asset Management - 100% owned by deputy CEO Youseph Aminzadeh. They struck on the idea of listing SA's first property fund focused on hotels, rather than factories, office blocks and retail properties. Nelson stitched together an impressive portfolio, buying blue-chip hotels. He acquired th...
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