Latest news with #SouthernSun
IOL News
21-05-2025
- Business
- IOL News
Strong performance doubles Southern Sun's dividend and occupancy reverts to normal levels
Southern Sun Elangeni & Maharani A view from the Southern Sun Elangeni & Maharani in eThekwini. Lower event activity in the Durban International Conference Centre negatively impacted the occupancy of the group's hotels in the city in the year to March 31. Image: Supplied Southern Sun doubled its dividend after lifting adjusted headline earnings per share a sturdy 34% to 75.6 cents for the year to March 31, following strong growth in the Western Cape and in Gauteng. Income was up by 9% to R6.6 billion. Occupancy increased by 2.2 percentage points to 60.8%. Net debt reduced to R266 million. A 25 cents a share dividend was declared. The refurbishments of Southern Sun Cullinan and Sandton Towers – reopened in July 2024 and December 2024, respectively – along with upgrades to the restaurant and rooms at Southern Sun Rosebank and Southern Sun Sandton, were well received by the market, directors said. These improvements contributed to increased occupancy and rate growth in Cape Town and Gauteng during the latter half of the financial year. The 12% increase in operating profits, with finance cost savings, resulted in a 30% increase in adjusted headline earnings for the year to R1bn. 'The cost restructuring in 2021 enabled the group to deliver 14% EBITDAR (earnings before interest, tax, depreciation, amortisation, and restructuring), from 9% income growth,' the group directors said. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading Total income comprised room revenue growth of 10% to R4.4bn, supported by average room rate growth of 5% and the increase in occupancy. Food and beverage revenue increased 6% to R1.6bn in line with occupancy growth, property rental income has grown by 19% to R272m, while other revenue has increased by 7% to R330m. The recovery of occupancies to the group's long-term average, especially in regions that had underperformed in the current year, presents an opportunity in the medium term, directors said. However, some regions hindered overall performance in the past year, particularly KwaZulu-Natal and Mozambique. In South Africa, corporate and leisure bookings rebounded after the May 2024 elections, but government demand outside of G20-related events was slower to recover. There were signs of improvement in the third quarter, but activity slowed again in the last quarter due to the uncertainty surrounding the approval of the national budget. Additionally, reduced event activity at Durban International Convention Centre negatively impacted the group's hotels in Durban, although trading in Umhlanga remained stable. In Mozambique, political unrest and rioting in Maputo since November 2024 significantly affected demand at the Southern Sun and StayEasy hotels. Although this situation stabilised after the inauguration of the president in January, 2025, and supported by the fact that the hotels are in a secure zone surrounded by embassies and security forces, occupancy levels continued to lag. 'The group intends to maintain the dividend payout ratio, and in the absence of major expansion capex, will continue to apply available cash resources towards share buybacks when appropriate,' the directors said. A 3% reduction in the weighted average number of shares reflected the impact of the share buyback implemented in 2024. Visit:
Time Out
06-05-2025
- Entertainment
- Time Out
13 Johannesburg restaurants providing Mother's Day dining deals
Spoil your mom this Mother's Day with these fantastic deals in and around Johannesburg. Having a mother is one of life's greatest blessings. Mothers are often a great source of strength, comfort and offer unwavering love. Many mothers are selfless and have devoted themselves to ensuring their children's well-being, this is why they deserve to be spoiled and celebrated. If you are stuck on ideas for how to spoil your mom this Mother's Day, don't fret. Here are our top recommendations that will ensure your Mother's Day is filled with love and unforgettable memories... and flavours. Southern Sun Mother's Day lunch specials Southern Sun offers incredible promotions for Mother's Day. With delightful meals and enjoyable activities, bringing your mother to one of their hotels and restaurants is guaranteed to be an unforgettable celebration. Chefs will prepare the lunch at the various Southern Sun hotels throughout Johannesburg, and mothers will be pampered with presents and live performances. - The Twist Restaurant at Mount Grace Hotel & Spa offers a buffet meal for R610 per person. Kids are welcome to join their moms. Under 12s pay R305 per child. View this post on Instagram A post shared by Mount Grace Hotel & Spa (@mountgrace_hotel_spa) - Riverside Sun offers a Mother's Day buffet at its restaurant for R500 per person and R285 per child under 12. - Sandton Sun & Towers' San restaurant has a buffet special for R750 per person, R250 per child under 12, and children under 5 eat free. - Southern Sun Hyde Park Sandton will be running a Mother's Day special lunch at Luce restaurant for R595 per person and R295 per child under 12 years old. Mothers will also receive gifts. - Southern Sun's Kelseys Restaurant is offering a buffet with welcoming drinks at R550 per person and R230 per child under 12 years old. - Southern Sun Rosebank's Fresh Restaurant is offering a buffet at R495 per person and R245 per child under 12 years old. The fee includes a welcome drink on arrival and a gift for mothers. - Southern Sun Sandton has prepared a three-course meal at Eclipse Restaurant for all the mothers and their young ones. The meal costs R750 per person and R300 per child under 12 years old. The fee includes a welcome drink on arrival and a gift for mothers. See more about the Southern Sun restaurant deals here. Aduna Bistro This Mother's Day, head to Aduna Bistro at the African Pride Hotel in Melrose Arch for a special family-style meal. The meal costs R795 per person and comes with welcome bubbles. Moms will be spoiled with salted thyme focaccia bread with whipped butter and smoked olives, Caesar salad croquette for starters, and the main meal, which features roasted chicken or beef and vegetables. There is also dessert. View this post on Instagram A post shared by Aduna Bistro (@aduna_bistro) Goddess Café Goddess Cafe, aka the pink paradise, is ready to spoil moms this Mother's Day. The restaurant is offering a three-course meal for R375 per person. View this post on Instagram A post shared by GODDESS CAFE (@goddesscafesa) Sebule Make mom feel at home with a special meal from Sebule, which means 'Living Room'. The stunning restaurant will be serving a special meal in honour of Mother's Day this coming Sunday. The meal costs R1,250pp and comes with a glass of complimentary welcome bubbles. The menu comprises different breads, a starter, palate cleanser, main, dessert and petit fours. View this post on Instagram A post shared by Sebule Restaurant (@sebule_sa) Roar Bistro & Bar Delicious food, live music and a thoughtful gift for mom await at the Roar Bistro & Bar in Sandton this Mother's Day. The cost is R550 per adult, R225 for kids aged 6-12, and children under 6 dine for free. You can also enjoy bottomless bubbles or gin for just R300 per person. View this post on Instagram A post shared by Roar Bistro & Bar (@roarbistroandbar) Mikes Heritage House This Mother's Day, Mikes Heritage House in Parktown offers a three-course meal for R499 per person, including a complimentary glass of Boschendal Brut Rosé. View this post on Instagram A post shared by Mikes Heritage House (@mikesheritagehouse) Nova Bistro Celebrate Mother's Day with outstanding cuisine at Nova Bistro at The Houghton - Luxury Apartments. The restaurant is running a Mother's Day meal special with complimentary welcome bubbles for R795 per person.
What's On
02-04-2025
- Entertainment
- What's On
7 great spots to celebrate Easter in Abu Dhabi 2025
Themed celebrations aplenty… Easter Sunday is just weeks away, and that calls for a celebration. On that note, here are 7 great spots to celebrate Easter in Abu Dhabi. Emirates Palace Mandarin Oriental Indulge in a delightful, Easter-themed afternoon tea at Emirates Palace Mandarin Oriental's Episodes, from April 15 to 25. The festive celebrations will include special Easter-themed cakes, along with chocolate eggs and rabbits. Episodes, Emirates Palace Mandarin Oriental, West Corniche Road, Abu Dhabi, April 15 to 25, Dhs245. @ SUSHISAMBA Abu Dhabi SUSHISAMBA Abu Dhabi is all set to roll out their Easter brunch, so diners can enjoy the celebrated concept's breathtaking ambiance as they dig into its signature dishes. Celebrate the occasion with an exquisite blend of traditional Japanese, Brazilian, and Peruvian flavours. Ingredients from Japan such as kinmedai, amberjack, hirame, and tuna, alongside fresh, organic produce from UAE-based farms will lay the table for you this Easter. SUSHISAMBA Abu Dhabi, Conrad Abu Dhabi Etihad Towers, Al Bateen, Abu Dhabi, April 20, 1pm to 3.30pm. Tel: (0)2 811 5882. @sushisambaabudhabi Yas Links Celebrate Easter by the pool at Yas Acres Golf & Country Club with a delightful themed brunch. It will feature an international buffet and live cooking stations, plus exciting family-friendly activities including an Easter egg hunt, pinata, arts and crafts, face painting, magic show bouncy castle, photo booth and a special visit from the Easter Bunny. Yas Links, Yas Island, Abu Dhabi, April 20, noon to 3.30pm, Dhs225 soft, Dhs349 house, Dhs449 sparkling, Dhs99 ages 6 to 12. Tel: (0)50 757 4808. @yaslinksad Southern Sun Abu Dhabi Head over to Southern Sun Abu Dhabi for an egg-cellent, alfresco Easter brunch on their Balcon Terrace, featuring all their classics plus new live stations. To mark the occasion, there's also a host of special Easter themed desserts, and a fun egg hunt for the kids. Balcon Lounge & Terrace, Southern Sun Abu Dhabi, April 20, 1pm to 4pm, Dhs225 onwards. Tel: (0)56 515 3388. @southernsunad Park Hyatt Abu Dhabi One of Abu Dhabi's finest Argentinian eats, Maté, at Park Hyatt Abu Dhabi will serve up the Lamb & Legacy – Maté's Easter Edition experience, where you can celebrate Easter with an exquisite asado experience that highlights the finest ingredients of springs with lamb as the centrepiece of a menu that blends seasonal and cultural flavours. Maté, Park Hyatt Abu Dhabi, Saadiyat Island, April 20, 1pm to 4pm, Dhs425 soft, Dhs545 house, Dhs745 bubbles. Tel: (0)2 407 1234. @parkhyattad Shangri La Qaryat Al Beri Abu Dhabi Shangri-La Qaryat Al Beri Abu Dhabi will host a lavish brunch this Easter so you can celebrate the occasion with family and friends. At Sofra bld, their international restaurant, tuck into the 'Gardens of Babylon Brunch: Easter Edition' on April 19 and 20. In addition to all the regular favourites, there will also be special Easter-themed dishes as well as activities for children such as an egg hunt, egg rolling race and so on. Sofra bld, Shangri-La Qaryat Al Beri Abu Dhabi, April 19 and 20, 1pm to 4pm, Dhs328 soft, Dhs428 house, Dhs528 bubbles. @shangrilaabudhabi Grand Hyatt Abu Dhabi Hop on over to Verso this Easter for a family brunch with live entertainment and merriment serving as the ideal sidebars to your experience. The Easter celebrations will also feature a children's corner with pool and beach access. With specialties like the Baccala Mantecato and the Coscia d'Agnello Arrosto and a live desert show, this is a great way to celebrate the occasion with the family this year. Verso, Grand Hyatt Abu Dhabi, April 20, 1pm to 4pm, Dhs235 soft, Dhs335 house, Dhs115 ages 6 to 12.
