Hospitality Property Fund, the only hotel-focused real estate investment trust (Reit) on the JSE, says growth in hotel trading is expected to remain under pressure given the weak economic growth prospects in SA. The company released financial results for the six months to September wherein CEO Keith Randall said it continued to improve its performance since becoming a subsidiary of casino and gaming group, Tsogo Sun. "Hospitality completed the acquisition of 29 hotel properties from Tsogo Sun as well as the acquisition of additional sections in the Sandton Eye Sectional Title Scheme and the real right of extension on the Radisson Gautrain building, which formed part of the scheme," said Randall. Hospitality’s results were not comparable with the previous reporting period due to the seasonal variability in the rental income, a change in year-end, as well as the additional properties acquired in September 2016 and July 2017, according to Randall. Hospitality’s rental income rose to R3...
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