JOHANNESBURG, May 22 (Reuters) - South African

hotel-owner Southern Sun reported on Wednesday an 88%

jump in full-year profit, benefiting from cost-saving

initiatives, tourism and business travel and events.

Southern Sun, formerly Tsogo Sun Hotels, said its adjusted

headline earnings per share (AHEPS), the main profit measure in

South Africa, grew to 56.4 cents in the year ended on March 31,

up from 30 cents a year ago.

Southern Sun, which has 95 hotels and resorts in Africa and

the Middle East, said it was a record year for profitability,

with total income growth of 19% and earnings before interest,

income tax, depreciation, amortisation, rent, long term

incentives and exceptional items (EBITDAR) up 32% to 1.9 billion

rand ($105 million).

Group revenue grew by 19% to 6 billion rand.

The owner of Southern Sun branded hotels and luxury Beverly

Hills hotel, said its performance was anchored by the "strict"

maintenance of cost efficiencies achieved through the complete

restructuring of the group during the COVID-19 period. The group

cut jobs and slashed salaries, among other measures.

It also benefited from its significant exposure to the

Western Cape province, particularly Cape Town. It generated

revenue of 1.9 billion rand from the region.

"Cape Town has benefited from foreign inbound travel and

large-scale conferences and events across all segments, which

boosts demand for accommodation and drives both volume and rate

growth in the region," the company said.

Its luxury hotel guests have proven more resilient to

economic pressures such as inflation and rising interest rates,

"being influenced more by location and personal preference

rather than price," it added.

($1 = 18.1050 rand)