- Chief Executive Officer, Hospitality Property Fund
Andrew joined Hospitality Property Fund in January 2007 as COO, became deputy chief executive officer in 2009, and CEO in 2013. Hospitality Property Fund Limited is a REIT offering investors a unique investment vehicle in the hospitality sector through the ownership of select hotel and leisure properties.
Prior to joining Hospitality, Andrew was a director of operations with Southern Sun Hotels. During his career he has been with the City Lodge Group and Cullinan Hotel Group. Andrew has more than 20 years’ operational hospitality and tourism experience.
Hospitality expertise essential for hotel real estate investment
Hotel industry development in South Africa is seeing a shift. Andrew Rogers of Hospitality Property Fund discusses acquisition and development in this TV show.
Hotel industry development funding
Well, certainly the current fund philosophy is to look at acquisition of existing hotel space and hotel product. And that, I think will certainly, they are more distressed assets and it’s currently cheaper to acquire than to develop. I think that however will shift enough. I think you’ll find that certainly hotel land will become available, probably more than likely mixed use developments as opposed to standalone hotel product. And as such I think the opportunity for international investors and/or investors into South Africa space will be to probably use a fund like ourselves which is an established fund. Your major player hotel companies are unwilling to put equity into the game. So for us we’re able to find tenants willing to sign leases with the backing of an international brand. And really if you’re asking me where the major development now that’s occurring, certainly Cape Town is a very attractive development now, Johannesburg will remain the business hub and traveller portal for most of Africa or Southern Africa. And then to a degree Durban, where one senses, from a major market point of view, those are the three sort of major notes in South Africa.
If you enjoyed this TV show about hotel industry development in South Africa, why not browse more great free content on The Hospitality Channel.