Southern Sun boosted by recovery in occupancies
Interim revenue forecast to rise as much as 39% as tourism and leisure sector near full recovery from Covid pandemic
Southern Sun on Wednesday reported a strong increase in occupancy in the first five months of its financial year with international events such as the Brics summit in Johannesburg and the Netball World Cup in Cape Town driving demand as the tourism industry continues to recover to pre-pandemic levels.
The company, valued at about R7.1bn on the JSE, said in a trading statement on Wednesday that the return of domestic and international travellers, along with the demand for conferences and events, boosted its occupancy rate by 11.1 percentage points year on year to 55.3% in the five months to end-August. The same period last year was still affected by the Omicron variant, which damped demand for travel...
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