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Tourism grows in Cape Town

Sun International is said to be considering a rights issue for rising debt. It’s debt is ballooning to R15.1bn for the half-year to end-June, and of that, R11.4bn is housed on its South African balance sheet. Tourism to Cape Town is growing, and the City Bowl is now home to a brand new 700-million-rand new hotel development. The investment by the Tsogo Sun group within the heart of the city is a response to a growth trend in the mid-market hotel sector in South Africa.

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