Tourism Tattler - - BUSINESS & FINANCE - For de­tailed anal­y­sis visit­ket/africa/South_Africa_-_Jo­han­nes­burg

Jo­han­nes­burg en­joyed the high­est level of oc­cu­pancy for at least six years and strong ADR per­for­mance, with RevPAR grow­ing by 16% in lo­cal cur­rency. Un­for­tu­nately the per­for­mance of the Rand against the US$ masks this strong growth.

Marriott has an­nounced plans to con­struct a flag­ship ho­tel at the Mel­rose Arch, which is a pop­u­lar mixed-use de­vel­op­ment pro­vid­ing a live, work and play en­vi­ron­ment out­side the cen­tral busi­ness dis­trict.

Jo­han­nes­burg has seen a peace­ful tran­si­tion of power in 2016 that helps re­gain­ing cor­po­rate and in­vestor's con­fi­dence. The ho­tel in­dus­try in Jo­han­nes­burg should ben­e­fit from the ad­van­ta­geous ex­change rate of the Rand. Ho­tel's per­for­mance is ex­pected to show a pos­i­tive trends and ho­tel val­ues would rise by 14.4% in Rand terms and 24.3% in US dol­lars.

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