Johannesburg, Mar 28 (I-Net Bridge) - Gooderson Leisure Corporation (GDN) will sell the business and assets of the Beach Hotel to Motsa Properties for R20 million, with effect from July 1.
The sales proceeds will be used, among others, to settle certain liabilities, Gooderson said on Wednesday in a statement.
The deal is subject to the signing of a legal agreement.
The Beach Hotel is situated on Durban's beachfront, consisting of 112 rooms, bars, restaurants and conference venues.
I-Net Bridge, Tel: +27-11-280-0737 newsdesk@inet.co.za
Copyright 2012 I-Net Bridge. All rights reserved.
