The first inkling of consolidation in more than two years is coming to SA’s struggling listed property sector with Tsogo Sun Hotels making a R373m bid to buy the 25% of Hospitality Property Fund (HPF) it doesn’t yet own.

HPF, which is the only hotel and resort real estate investment trust (Reit) listed on the JSE, has a 54-property portfolio worth R10bn, which includes The Westin Cape Town, Southern Sun Waterfront, Garden Court Umhlanga, and Birchwood Hotel & OR Tambo Conference Centre.

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