Hotel spin-offs for SA here, says investor

NINE new hotel projects valued at R1,6bn (€200m) are being built around South Africa. Golding Hotel Investment Consultants (GHIC) confirms it is currently engaged at various stages with the projects. These have largely been as a result of South Africa winning the 2010 World Cup bid, which md, Joop Demes, believes will generate good exposure for the country and result in aggressive growth in foreign tourism. “There are opportunities for increased investment throughout the industry because this is driven through a growing local corporate and leisure market, as well as an increasing international market. In the next decade we can expect to see tremendous growth in the hospitality sector, not only through a strong and growing local economy, but also through still relatively untapped international demand,” concluded Demes. (Natalia Thomson)