Sharenet Sites 
Sharenet Sites
Trading statement
HOSPITALITY PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2005/014211/06)
Share code for A-linked units: HPA
ISIN for A-linked units: ZAE000076790
Share code of B-linked units: HPB
ISIN for B-linked units: ZAE000076808
("Hospitality" or "the Company" or “the Fund”)
TRADING STATEMENT
In terms of the Listings Requirements of the JSE Limited, property entities are required to
publish a trading statement as soon as they are satisfied that a reasonable degree of certainty
exists that the distribution for the next distribution period will differ by at least 15% from
that of the previous corresponding period or a profit forecast previously provided to the market
in relation to such period.
Unitholders are reminded that the Fund’s units in issue comprise A- and B-linked units. The A-
linked units have a preferential claim to earnings with capped growth at the lower of CPI or 5%
from the entitlement in the prior comparable period. The B-linked units receive the balance of
the earnings.
As recorded in the results announcement for the year ended 30 June 2013, “Distributions for the
12 months ending 30 June 2014 are expected to be at least in line with the Forecast of 141,36
cents per A-linked unit and 26,72 cents per B-linked unit earned evenly across the distribution
periods.”
The A-linked unit distribution for the six months ended 31 December 2013 will remain in-line
with the forecast at 69,83 cents per linked unit (cpu), a growth of 5% to the previous year.
Distributable earnings per B-linked unit for the six months ended 31 December 2013 are expected
to exceed the forecast (evenly distributed over the two distribution periods) of 13,36 cpu by
between 40 to 50%, which is an increase of between 103,5 to 118,1% compared to the same period
in the prior year. The expected increase in the B-linked unit distribution is as a result of
better than forecast hotel trading conditions.
This distribution forecast has not been reviewed and reported on by the Company’s external
auditors.
Johannesburg
14 February 2014
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/02/2014 10:01:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
