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Welcome to The Property Pod, the leading podcast for property investors in South Africa, available here on Moneyweb. This show also features a vodcast on our YouTube channel, MoneywebTV.
Southern Sun, a powerhouse in the hotels and leisure sector listed on the JSE and significantly backed by fellow listed entity Hosken Consolidated Investments, has been very active in the market over recent years.
The group’s share price peaked at a record high in February, reaching about R11 per share.
For background, we reported earlier in 2024 that the share price had rebounded to roughly R7 per share, following the disruptions caused by the Covid-19 pandemic in 2020, which impacted numerous companies on the JSE.
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Southern Sun’s share performance
Recent activities in the market suggest that Southern Sun is progressing from recovery to growth and expansion. This includes contracts for new hotel developments and retaining significant properties such as the Elangeni & Maharani hotel along the Durban beachfront.
Read/listen:
No impact on SA hotels from Middle East conflict, states Southern Sun
Southern Sun’s hotel occupancies increased by G20 and transient demand
Southern Sun secures leases for Durban beachfront hotels with eThekwini
Southern Sun explores developments in Cape Town Foreshore
Southern Sun secures a notable hotel at the iconic R5bn Oceans Umhlanga project
This momentum is likely to persist with substantial hotel projects planned for Cape Town, especially near the foreshore adjacent to the Cape Town ICC and Southern Sun’s prestigious Cullinan Hotel.
Plans are also advancing for the Beverly Hills Hotel, indicating positive traction. The Southern Sun group revealed its annual results last month, highlighting several of these projects in discussions with analysts and investors.
For a deeper understanding of the group’s performance and growth strategies, we’re joined this week by Marcel von Aulock. He is a well-known guest on The Property Pod, making his first appearance on the podcast this year.
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Marcel von Aulock, CEO of JSE-listed Southern Sun. Image: Supplied
Von Aulock, the group CEO, will discuss the recovery seen in Durban and KwaZulu-Natal, where a double-digit rebound is coupled with strong performance in Cape Town and a resurgence in Sandton, boosted by South Africa hosting the G20 Leader’s Summit in Johannesburg last year.
Read/listen:
Pareto acquires 100% of Sandton Convention Centre and key hotels in R1.1bn deal
Southern Sun on the rise
Standard Bank Group’s L2D anticipates a significant G20 Summit boost for Sandton
Tsogo Sun claims Durban as the strongest hotel market in SA [Nov 2020]
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For past episodes of The Property Pod, click here.
