Tsogo Sun managed to offset flat income growth from its casinos with better performance from its hotels, the company said in its results statement on Wednesday morning. The group’s overall income grew 8% to R13.2bn. Rooms revenue grew 11% to R3bn and food and beverages revenue 6% to R1.4bn. "The hotel industry in SA continues to experience a recovery from the dual impact of depressed demand and oversupply. Overall industry occupancies have improved to 65.2% in 2017 from 63.8% in 2016," Tsogo said. "Trading for the group’s South African hotels for the year recorded a system-wide revenue per available room growth of 6% on the prior year due mainly to an increase in average room rates by 5% to R1,067." Gambling, which at R7.5bn contributed 57% of total income, grew 2% in the year to end-March from the previous year’s R7.4bn. Montecasino contributed R2.7bn, or 20%, of the group’s income. Tsogo’s next biggest operation is Suncoast, which contributed R1.7bn, followed by Gold Reef City, wh...
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