
TAs the hotel and gaming entity Tsogo Sun continues to battle the financial effects of lockdown caused by COVID-19, the group’s hospitality arm, Tsogo Sun Hotels announced that is set to sell its interest in a Seychelles asset. Tsogo Sun announced last week that it intends selling its 50% stake in United Resorts and Hotels, which has assets in the Indian Ocean archipelagic island country, for R465 million. The money will be used to reduce Tsogo Sun Hotel’s debt, which, at the end of March this year, was reflected as R3.3 billion.
South Africa’s casino and hospitality industries, which includes iconic groups such as Tsogo Sun and Sun International, has been struggling to survive as a long lockdown wreaked havoc on their portfolios.
















