Phone

Koeberg Road,
Cape Town,
Western Cape

021 551 6314

Nmr Ave,
Durban,
KwaZulu-Natal

031 301 1551

Old Pretoria Road, Midrand,
Johannesburg,
Gauteng

011 805 6239

1 Maree Street, Sandton,
Johannesburg,
Gauteng

011 887 5555

444 Rifle Range Road,
Selby
Johannesburg,
Gauteng

083 502 1956

Memorial Road, Kimberley,
Northern Cape

053 831 2552

N4 Freeway
Nelspruit,
Mpumalanga

013 741 4490

81 Pretorius Street, Pretoria,
Gauteng

012 324 1304

6 White Pear,
Richards Bay,
KwaZulu-Natal

035 789 1001

3 Pioneer Avenue, Emalahleni,
Witbank,
Mpumalanga

013 692 4387

Phone Formula 1 from within South Africa

0861 367 685

Physical address of head office

Hotel Formula 1 Group
Block B, 2nd Floor, Edenburg Terraces,
348 Rivonia Boulevard
Rivonia
Johannesburg
Gauteng Province
South Africa

Postal address

P O Box 2776
Rivonia
Johannesburg
Gauteng Province
2128
South Africa

29 Mar 2012

Southern Sun Hotels (a wholly-owned subsidiary of Tsogo Sun) purchases the 52.6% portion of Hotel Formula 1 from the Accor Group, to bring its share to 100%.

"The purchase price of R300 million comprises R264 million attributable to the equity value of Hotel Formula 1 and R36 million relating to the acquisition of a loan between Accor and Hotel Formula 1. The transaction is subject to regulatory approvals including, inter alia, the Competition Authorities and the South African Reserve Bank. The Hotel Formula 1 business has been at the forefront of the budget accommodation market in South Africa since its formation in 1991, as a joint venture between Accor and Southern Sun. Hotel Formula 1 owns 20 hotels across the country with some 1 474 rooms, in addition to managing 3 hotels already wholly owned by Southern Sun. For the year ended 31 December 2010, which benefitted from the 2010 FIFA World Cup, Hotel Formula 1 reported Income of R125.7 million and Earnings before interest depreciation amortisation and rental charges ("Ebitdar") of R66.7 million. The hotels will continue to operate under the Hotel Formula 1 brand in terms of an exclusive trademark license agreement entered into between the parties. This acquisition is consistent with the stated growth strategy of the Tsogo Sun Group to continue to invest in its core gaming and hotel operations, both locally and abroad."

1992

In a joint venture between Accor and Southern Sun Limited, the "Formula 1" hotel range is launched.