A tale of two Tsogos: In mid-2019, Tsogo split into two. Tsogo Sun Gaming (JSE:TSG) holds the casino assets (Montecasino, Gold Reef City and many others) and Tsogo Sun Hotels (JSE:TGO) holds hotel assets that aren’t linked to the casino resorts (Southern Sun hotels, etc). This allowed investo.
A new Covid variant and SA's return to the UK’s red list sent shockwaves through the leisure industry, with shares in hotel groups plummeting as holiday bookings were cancelled
South Africa said on Friday a British ban on flights from six southern African countries because of the detection of a new COVID-19 variant seemed rushed as even the World Health Organization (WHO) was yet to advise on the next steps.
The hospitality sector is watching the rise in COVID-19 cases closely. Tsogo Sun Hotels is still seeing occupancy levels far below the group's long-term average.
The South African rand sank below 16.00 to the dollar for the first time this year on Friday as, with investors unnerved by the discovery of a significant coronavirus variant in the country, government bonds and shares also tumbled.