SECTOR EXPERTISE Hospitality Absa | Corporate and Investment Banking > Sector Expertise > Hospitality Supportive partners are a necessity through unprecedented times Decades of expertise, a supportive balance sheet and deep relationships have positioned us well to support our clients through trying times. TOTAL DEAL VALUE $533 m DEALS DONE 8 TOTAL CLIENTS 22 THOUGHTS FROM OUR LEADERS Hotels and Gaming are under enormous pressure, but growth opportunities still remain down the line Consumer and business confidence are important drivers in both gaming and hotel businesses. Readily disposable income results in family vacations, trips abroad and a willingness to take on bigger bets when gambling. Business travel is also impacted by economic fluctuations and government spend. We have witnessed how economic volatility has negatively impacted the hospitality sector in the past decades, but the impact of the Covid-19 pandemic is unprecedented. The lockdown, smoking ban, alcohol bans, curfews, closure of provincial borders, limited air travel and general contagion anxiety have severely impacted both gaming enterprises and large hotel groups. Recouping lost revenue will take time and the industry will need to look for new expansion opportunities. For gaming, this includes sports betting, bingo terminals and limited pay-out machines in pubs. We expect to see hotel groups consolidating and acquiring other entities, both locally and across the continent. Our ability to support our clients both during and post this crisis is crucial. Over and above interest and capital deferrals, we are working closely with long-term clients to find solutions through restructuring, asset sales, capital raising, and assessing optimal debt and equity capacity. In working with many of Southern Africa’s most established hotel groups, we are leveraging our expertise, long-term relationships and extensive networks across different industries to find solutions that can support our hospitality clients. This is the real value that Absa CIB endeavours to bring to every engagement and relationship. We focus on long-term growth and evaluate risks, rewards and opportunities that will deliver according to that objective. Liza Eustace Head: Healthcare, Construction and Hospitality https://cib.absa.africa/wp-content/uploads/2020/07/file_example_MP3_700KB.mp3 Latest insights Unique perspectives on the factors impacting business today. INSIGHTS SERIES Hospitality Insights There’s no denying that the travel and Tourism industry was one of the hardest hit due to the various travel restrictions that were imposed, amongst other challenges. Listen to the Hospitality discussion between Liza Eustace, Head: Healthcare, Construction and Hospitality at Absa CIB, Marcel Van Aulock, CEO of Tsogo Sun Hotels and Kirby Gordon, Chief Marketing officer of FlySafair, as they unpack some of the challenges, implications and possibilities that face the sector. Read more CONSUMER INSIGHTS 2021 Black Friday Resurgence: Here or Not? Black Friday 2021 appears to have surpassed the pitfalls of 2020 and become resurgent across all metrics. Read more Videos In conversation with African Export–Import Bank Effective management during a pandemic needs to be supported with cross-sector partnerships and sustainable funding. Videos In conversation with Dischem To date, Dischem has delivered over 250,000 vaccinations across the nation. Rui Morais, talks about how they have leveraged their extensive network to build capacity for mass vaccination sites in collaboration with government and other private sector players. HEALTHCARE Vaccinating for Economic Recovery and Growth Liza Eustace shares her insights on the importance of getting the country and the continent vaccinated against COVID19 in order to help boost economic recovery and growth. Read more TELECOMS INSIGHTS How telecommunication companies are using technology in agriculture and healthcare in Africa Connected phones can save lives and secure food. Prasanna Nana provides her thoughts on how telecommunication companies are aiding the Agriculture and Healthcare sector in Africa. Read more Subscribe for quarterly updates Analysis and data-driven insights for a changing world – delivered direct to your inbox. Name Company email address I consent to provide my personal information being collected and processed for this subscription. I Accept the Terms and Conditions TESTIMONIALS What our customers have to say “Absa provided us with advice on matters related to project finance and maximising interest income on excess cash. The service received has been outstanding and we have had better-than forecasted interest earnings as a result of the guidance and restructuring provided by Absa CIB. We have also received substantial support for decision making purposes when it comes to financial instruments held with Absa.” Dorper Wind Farm – South Africa President, Trade Association - Africa "Absa has been a partner bank to ACWA Power since our first successful project bid, providing the group with project financing, working capital as well as mandated as the account bank for the project. Absa has provided great value through its service, tailored solutions, valuable insights and advisory to the group." ACWA Power – UAE and Africa President, Trade Association - Africa "As a partner bank to Marubeni for over 6 years, the Absa team has provided awesome service in assisting us to establish our South Africa office. Their always-available attitude has supported us to facilitate our entry into both the South African and African Market." Marubeni Middle-East & Africa Power Limited – Japan President, Trade Association - Africa "Having a Pan-African banking partner is very important to the group as it gives us a competitive advantage in the market. We are now able to go for the projects we want because we have a partner bank that understands our business and is ready to help us materialise our growth ambitions in the continent." Gransolar Group – Spain President, Trade Association - Africa Contact us 0860 500 703 +27 (0) 10 211 3117 email@example.com Subscribe for quarterly updates Analysis and data-driven insights for a changing world – delivered directly to your inbox. Subscribe now Rate our website How would you rate your overall satisfaction with this website? 1 2 3 4 5 Great! Please tell us more What did you like most about the website? 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