
Tsogo Sun
Gold Reef Resorts Limited, a gaming and entertainment company, operates resorts and entertainment complexes.
Date | Investors | Amount | Round |
---|---|---|---|
N/A | €0.0 | round | |
* | $21.1m | Post IPO Equity | |
Total Funding | 000k |
ZAR | 2021 | 2022 | 2023 | 2024 | 2025 |
---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | 55 % | 28 % | 2 % | (3 %) |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
% EBITDA margin | 29 % | 35 % | 37 % | 35 % | 33 % |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
% profit margin | - | 16 % | 16 % | 14 % | 11 % |
EV | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Southern Sun Limited is a multinational hospitality company listed on the Johannesburg Stock Exchange (JSE) and primarily operates in the hotel, leisure, and entertainment sectors across South Africa, several sub-Saharan African countries, the Seychelles, and the Middle East. The company's history traces back to 1969 when hotelier Sol Kerzner, the son of Russian immigrants who owned a chain of kosher hotels, partnered with South African Breweries to form Southern Sun Hotels. Starting with just six hotels, including the iconic Beverly Hills in uMhlanga, the group quickly expanded. By 1983, the company split, with the casino operations forming Sun International and the hotel assets remaining as Southern Sun. A significant expansion occurred in 1985 with the acquisition of the Holiday Inn South Africa hotel group, which nearly doubled its portfolio.
The company's business model focuses on owning, leasing, and managing a diverse portfolio of hotel properties. Unlike the 'asset-light' model prevalent in the industry, Southern Sun prefers to own the land, buildings, operations, and brand where possible, particularly in South Africa, to retain control and maximize returns. Revenue is primarily generated from accommodation services and food and beverage sales, supplemented by conference and event hosting. The business serves a wide range of clients, from corporate and government travelers to leisure tourists and convention attendees. In June 2019, the group unbundled its hotel and gaming interests into two separately listed companies: Tsogo Sun Hotels and Tsogo Sun Gaming. In May 2022, Tsogo Sun Hotels officially rebranded back to its heritage name, Southern Sun.
Southern Sun's portfolio encompasses over 90 hotels, operating under a multi-brand strategy to cater to various market segments. This includes luxury properties like the Beverly Hills and Sandton Sun, full-service brands such as Southern Sun Hotels and SunSquare, and economy options like StayEasy and SUN1. The group also manages resorts, timeshare properties, and the Sandton Convention Centre. Marcel von Aulock, the current CEO, has been with the Tsogo Sun group since 1999, holding various strategic roles before his appointment as CEO of Southern Sun. His long tenure and experience within the company have been instrumental in navigating its growth and restructuring, including the recent rebranding and recovery post-pandemic.
Keywords: Southern Sun, hospitality group, hotel management, Sol Kerzner, JSE listed, hotel operator, South Africa tourism, luxury hotels, economy hotels, conference venues, resort operator, Sandton Convention Centre, Marcel von Aulock, Beverly Hills Hotel, SunSquare, Garden Court, StayEasy, Tsogo Sun rebranding, African hospitality, leisure travel, business travel, hotel ownership, food and beverage services, event hosting