Glossary

 

AGM Annual General Meeting
ARR Average room rate, sometimes referred to as average daily rate
Ash Brook Ash Brook Investments Proprietary Limited (Registration number 2007/022550/07, a private company incorporated and registered in accordance with the laws of South Africa. HPF Properties Proprietary Limited owns 15% of Ash Brook.
B-BBEE Broad-Based Black Economic Empowerment as per the B-BBEE Act
Capex Capital expenditure
Companies Act Companies Act, No 71 of 2008, as amended
CEO Chief Executive Officer
CSDP Central Securities Depository Participant
Covid-19 or
Covid-19 pandemic
An infectious disease caused by a newly discovered coronavirus, as defined by the World Health Organisation
CTC Cost to company
Directors The directors of Hospitality from time to time
EBITDA Earnings before interest, tax, depreciation and amortisation
EBITDAR Earnings before interest, tax, depreciation, amortisation and rent
FD Financial Director
FF&E Furniture, fittings and equipment
F&V Fixed and variable
GDP Gross domestic product
Group Hospitality and its subsidiaries
HCI Hosken Consolidated Investments Limited (Registration number 1973/007111/06), a public company incorporated and registered in accordance with the laws of South Africa and listed on the JSE
Hospitality or the Company or the Fund Hospitality Property Fund Limited (Registration number 2005/014211/06), a public company incorporated and registered in accordance with the laws of South Africa and listed on the JSE.
HPF Properties HPF Properties Proprietary Limited, (Registration number 2005/020743/07), a wholly owned subsidiary of Hospitality
IAS International Accounting Standards
IASB International Accounting Standards Board
IFAC International Federation of Accountants
IFRS International Financial Reporting Standards
IIRC International Integrated Reporting Council
IAR Integrated annual report
IT Information Technology
JSE The Johannesburg Stock Exchange operated by the JSE Limited (Registration number 2005/022939/06), a public company incorporated and registered in accordance with the laws of South Africa, and licensed to operate an exchange under the Financial Markets Act, 10 of 2012.
JSE Listings Requirements The Listings Requirements of the JSE, as amended from time to time
King IV The King Code of Governance Principles for South Africa 2016
LTIs Long-term incentives
LTV Loan-to-value and a wholly owned subsidiary of Hospitality
MOI Memorandum of Incorporation
POPI Protection of Personal Information
PwC PricewaterhouseCoopers Inc.
Rand or R South African Rand, the lawful currency of South Africa
REIT Real Estate Investment Trust
Revpar Revenue per available room
SATSA South African Tourism Services Association
SENS Stock Exchange News Service of the JSE Limited
SPV Special-purpose vehicle
STI Short-term incentives
STR STR Global South African Hotel Review
STT Securities transfer tax
The Board The Board of Directors of Hospitality Property Fund Limited
The trust The HPF Employee Incentive Trust
Tsogo Sun Group Collectively, Tsogo Sun and its subsidiaries
Tsogo Sun Tsogo Sun Holdings Limited
Tsogo Sun Hotels Tsogo Sun Hotels Limited, previously known as Southern Sun Hotels Proprietary Limited, registration number 2002/006356/06 incorporated as a private company and converted to a public company on 15 May 2019.
VAT Value added tax
WESGRO Western Cape tourism, trade and investment