GAMING FOR AFRICA The Maslow at Time Square: a new concept in hospitality T


he metamorphosis of Sun International’s Time Square in Menlyn into an encompassing, state-of-the-art hospitality, business and leisure hub is almost complete. One year since a new era in entertainment for Tshwane was hailed with the opening of the casino and restaurant complex, and three months since the launch of the multipurpose 8,500-seat Sun Arena, Sun International is about to unveil the final phase of this ambitious project – The Maslow at Time Square. Opening this month, The Maslow at Time Square


offers an entirely new concept in hospitality. A first for South Africa, this 238-room specialist business hotel offers multi-level accommodation options – from standard to premium – all under one roof. The 17-storey hotel is packed with state-of-the-art facilities and technology that will delight and satisfy every business executive. The Foundation Level, offering a full range of amenities that exceed basic accommodation needs, is designed to deliver good quality service, design and physical attributes to meet guest expectations. The Median Level offers a deluxe experience, with a wider range of facilities and superior design qualities that meet the needs of discerning guests. On the Median and Foundation levels, guests have access to a well-equipped, modern gym, The Maslow Hotel pool and a conference centre.


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refurbishment of Sun City and the acquisition of Sun Slots have met expectations. However, other developments have fallen well short, increasing our debt and debt ratios significantly. Economic growth in South Africa and Latam has slowed, political uncertainty has increased and social challenges, particularly in South Africa, are at an all-time high. Together, this has created the perfect storm, putting pressure on consumer spending and slowing gaming revenue growth”. “That said, our business has


proved its resilience and we remain cash generative and positive around future opportunities. In these difficult times, we’ve shifted our focus, realigned our strategy and we’re committed to getting the basics right as well as operating at optimal efficiency and ensuring we exceed our guests’ expectations”. “We have closed loss making operations including, the Fish River Sun, Sun Nao Casino in Colombia and the International VIP Businesses


26 APRIL 2018 The Zenith Level


offers an exceptional range of facilities and premier services that are not only comprehensive, but also highly personalised and prudently crafted to provide the most exclusive experience. At the pinnacle of the high-rise hotel, the Zenith Level features a butler service, a fully stocked mini-bar, the Luminary Lounge, the Solis Bar and infinity pool, and private boardrooms on the 14th floor. The concept for the hotel is inspired by the


psychologist Abraham Maslow and his well-known hierarchy of needs. From the outset, the team at the hotel has applied Maslow’s straightforward approach to understanding customers’ needs in its service philosophy, to deliver a seamless experience from check-in to check-out, and between work and play. The hotel provides an environment where guests


have everything they need – facilities, technology and intelligence – at their fingertips. This is where guests live comfortably, can facilitate business, and enjoy premium leisure facilities to ensure relaxation. All the senses have been catered for, offering everything from business to leisure facilities, with tempting eateries, a relaxing


business lounge and 13 bespoke conference rooms. “With the very best facilities and multi-level accommodation options, The Maslow at Time Square has an unprecedented offering that puts it in a league of


its own. Every aspect has been intuitively designed to help guests balance work and life.” “Our hotel offers superior guest amenities and


services which are non-intrusive and tailor-made for the individual. That’s because we understand that everyone’s needs are different,” says Brett Hoppé, General Manager at Time Square. The guest rooms are The Maslow Time Square’s perfect response to a full day of productivity. Each room is elegantly designed with air conditioning, flat screen TVs, luxurious linen, and world class amenities. The Maslow Time Square goes beyond what has traditionally been expected from accommodation for professionals, creating an environment in which ideas can be both conceptualised and realised. The Maslow hotel adjoins the vibrant Time


Square, which boasts 18 bars and restaurants by an eclectic ensemble of South African and international personalities within its offering.


much improved performances from these operations”. “We’re also expecting increased


footfall and thus improved revenue and EBITDA at Time Square, following the opening of the arena a few months ago and the imminent opening of the hotel. The major refurbishment at Sun City will continue to deliver benefits, although a stronger Rand and the drought may deter some tourists and put pressure on The Table Bay in Cape Town”. “The Chilean economy is also


in both South Africa and Panama. We have also downscaled the Ocean Sun Casino by closing the 66th floor casino and significantly reduced staff. We have applied to the Eastern Cape Gaming Board to restructure the Boardwalk and are in the process of addressing the performance of the Carousel”. The company is looking to embark on a capital raise exercise to de-risk its balance sheet, with the proceeds aimed at repaying debt and reducing its interest charge. A stronger balance sheet and capital structure will also provide management with the headroom to focus on the business.


Given the need to reduce the high


debt levels, the board has decided not to declare a dividend for the year ended 31 December 2017. Looking ahead, Leeming said: “The mood in South Africa has definitely lifted. However, we don’t expect this to translate immediately into an increase in discretionary spend or spend on gaming but should have a positive effect in the medium term”. “Closing loss making entities will


have a positive impact, as will the interventions we’ve put in place at the Ocean Sun Casino, the Boardwalk and the Carousel. We are anticipating


showing signs of recovery, assisted by the recent change in government. Gaming revenues have stabilised and Monticello is starting to reflect revenue growth compared to the prior year. The addition of Thunderbird Resorts in Peru will contribute positively. A successful outcome for Sun Dreams in the municipal licence bidding process in Chile will also have a significant impact”. “This is not an easy economic


environment in which to trade. However, we have the right plan in place. We’ve taken the necessary steps and we’re completely focused on the job at hand.”


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