Formula 1 hotel reservations
Formula 1 hotels are bottom of the range budget hotels found throughout South Africa. Formula 1 hotel South Africa is a joint venture between Southern Sun and Accor.
Locations of Formula 1 hotels
Bloemfontein |
Cape Town |
Durban |
Johannesburg |
Port Elizabeth |
Pretoria |
Richard's Bay |
Witbank |
Booking a Formula 1 hotel reservation
Formula 1 hotel website |
|
Phone Formula 1 from within South Africa |
+27 (11) 807 0750 |
Fax number from within South Africa |
+27 (11) 807 3888 |
Physical address of head office |
Hotel Formula 1 Group |
Postal address |
P O Box 2776 |
History of the Formula 1 hotel in South Africa
8 Dec 2011 |
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. |