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.

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TOTAL DEAL VALUE

$533 m

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DEALS DONE

8

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TOTAL CLIENTS

22

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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

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.

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.

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.

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.

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