5 things you need to know in SA business today and the 5 new hotels around the world with the most incredible design
1. Naspers' new international investment company Prosus had a strong first day, with its share price trading at around 74.50 euro in Amsterdam, and R1 200 on the JSE by Wednesday afternoon. This is considerably higher than the "reference price" of 58.70 euros (around R950) which was fixed for the share on Tuesday. The company – which is invested in more than 40 companies, including OLX and a number of food delivery businesses – is estimated to have a market capitalisation of around R1.935trn following the recapitalisation. Its 31% stake in the Chinese internet giant Tencent is worth around R1.924trn.
2. South Africa has concluded a new trade deal with the UK, which will kick in if Britain leaves the European Union without an trade agreement. The deal ensures that trade continues as normal with the UK regardless of whether the country leaves the EU with a deal, without a deal or does not leave at all.
3. South African business confidence slumped to the lowest level since the introductions of sanctions in 1985, according to a sentiment index compiled by the South African Chamber of Commerce and Industry.
4. Distell is accusing AB InBev and SAB Miller of being in breach of their merger conditions, back in 2016, and the Competition Tribunal will hear its complaint in hearings from today. Distell accuses the merged entity of removing competitors' advertising material from outlets.
5. The embattled pharmaceutical company Aspen increased its revenue
by 1% to R38.9bn, with normalised headline earnings per share down 7% in the
year to end-June. Its manufacturing revenue declined by 11% to R5.8 billion
after a major third-party customer losing a material tender in the prior year
and a strike at its South African factories.
The 5 new hotels around the world with the most incredible design
Reported by Taylor Borden
With over 4,500 project entries from 87 different countries, 75 leading figures in architecture and design are judging the projects to determine the best of the year. Judges are assessing each project based on 3 criteria: beauty, innovation, and benefit.
In July, a longlist featuring 259 projects was released. In the first week of September, a shortlist reduced to 53 projects was released. The winner will be announced in October.
Presented below, in order of price point, are the five hotels featured on this year's shortlist. Almost all fall under R3,000 per night.
1. (Do-C) Gotanda is a modern capsule hotel in Tokyo featuring minimal interiors and a rough, industrial look.
Location: Tokyo, Japan
Prices: Start at R675 per night
This capsule hotel, located in a Tokyo red-light district, was redesigned and completed by Jo Nagasaka/Schemata Architects in 2018. Previously, it was also a capsule hotel; the renovation solely provided fresh interiors.
A public bath in the basement was transformed into showers and a sauna. Existing interior finishes were stripped and reconstructed to provide for a more unfinished look.
The capsule sleeping pods, the hotel's sole accommodation, are big enough to comfortably fit a twin sized mattress.
Guests can book accommodation for as little as an hour.
According to Dezeen, this hotel made it onto the shortlist because of its simple but effective interiors overhaul.
2. Jungle Keva Hotel is a hotel that describes itself as fusing the elements of its design with the nature that surrounds it.
Location: Tulum, Mexico
Prices: Start at R1,500 per night
Jungle Keva is a boutique hotel situated in the Mayan jungle.
It consists of five lodges, each of which boasts a mezzanine, terrace, and an indoor-outdoor bathroom.
The hotel was designed by Jaque Studio with the local greenery in mind, keeping 70% of the original vegetation by constructing lodges amongst pre-existing clusters of trees.
Palm leaf-lined ceilings and natural wooden finishes allow the lodges to blend in with their surroundings.
The hotel has been recognized for its environmentally minded approach to design.
3. SWEETS hotel is a collection of 28 tiny bridge houses along Amsterdam canals that were reimagined as individual hotel suites.
Location: Amsterdam, Netherlands
Prices: Start at R2,000 per night
The suites can accommodate two guests each.
The bridge houses once boarded Amsterdam's many bridge keepers, but with a centralized bridge control system, the structures lost purpose.
In 2012, Space&Matter, a local architecture and design studio, proposed redesigning them as guest suites in the spirit of experiential travel.
They have been working on the project ever since, with 15 of the 28 bridge houses currently accepting reservations.
The Dezeen Awards shortlist recognizes SWEETS hotel for "combining modern initiatives with industrial heritage."
4. Dream and Maze are two renovated accommodations within The Other Place, a boutique hotel in Guilin Litopia, China.
Location: Guilin Litopia, China
Prices: Start at R2,085 per night
The hotel has 10 different, dreamlike, themed guest rooms.
The renovation was spearheaded by Shenzhen-based Studio10. The design was inspired by the works of M.C. Escher, a graphic artist known for his mind-bending artwork of impossible constructions.
The final design is meant to create a mysterious atmosphere and employ elements of optical illusion.
The 650 square foot rooms were completed in 2018. Each room relies on a pale pink and forest green monochromatic colour scheme, on top of the unexpected architecture, to transport guests to an alternate reality.
Dezeen included Dream and Maze on its shortlist because of its "serene and fresh environment … with the aim to distance spaces from busy, everyday life."
5. Radar Station is a cozy vacation rental home inside two prefabricated timber sheds erected in 1961 on the coast of Kent, England.
Location: Dungeness, United Kingdom
Prices: Start at R1,500 per night
The timber sheds were redesigned by UK-based designer Johnson Naylor into a one-bedroom beach vacation rental home in 2018.
It maintains the exterior shed form, but the interiors were redesigned to be "gentle, natural and calm," according to Dezeen.
The interiors reflect the landscape with a light colour palette.
The living area features yellow as a pop of colour, mirroring the colour of indigenous flowers in the area.
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