for subscribers

Despite gloom, SA hotel sector is poised to grow - report

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town - South Africa’s hospitality sector is poised for further growth in the next five years bolstered by inbound travellers amid a difficult and volatile economic climate, according to PwC’s 7th edition of the Hotels Outlook: 2017-2021.

“Africa’s hotel sector has remained resilient in the face of strong economic headwinds,” says Pietro Calicchio, hospitality and gaming industry leader for PwC Southern Africa.

The PwC outlook projects that South African hotel room revenue will grow by 10.1% in 2017 to R17.5bn. Overall hotel room revenue for South Africa is expected to expand at a 9.3% compound annual rate to R24.8bn in 2021 from R15.9bn in 2016.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.63
(-0.14)
ZAR/GBP
23.01
(-0.05)
ZAR/EUR
20.78
(-0.04)
ZAR/AUD
12.62
(-0.03)
ZAR/JPY
0.17
(-0.02)
Gold
2034.21
(+0.05)
Silver
28.28
(+0.09)
Platinum
961.50
(+0.38)
Brent Crude
44.55
(-1.53)
Palladium
2166.01
(+0.63)
All Share
56757.73
(-1.56)
Top 40
52435.65
(-1.72)
Financial 15
9897.96
(+0.10)
Industrial 25
74671.49
(-1.98)
Resource 10
58948.78
(-1.89)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 929 votes
It depends on how the funds are used.
74% - 6239 votes
No. We should have gotten the loan elsewhere.
15% - 1284 votes
Vote